Media stories about Celgene (NASDAQ:CELG) have been trending somewhat positive on Wednesday, according to Accern. Accern rates the sentiment of press coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Celgene earned a news impact score of 0.17 on Accern’s scale. Accern also assigned news stories about the biopharmaceutical company an impact score of 47.2116174749327 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Here are some of the news stories that may have effected Accern Sentiment’s analysis:
- Menendez, Hugin Locked In Contentious US Senate Race In New Jersey (newyork.cbslocal.com)
- Celgene’s Stock May See More Big Gains Ahead (investopedia.com)
- Hackensack Meridian Health Celebrates Opening of the Institute for Multiple Myeloma (onclive.com)
- Amniofix Injectable Reimbursement: The Sky Is Falling (seekingalpha.com)
- Analyst Recommendations for Biogen and Its Peers in August (finance.yahoo.com)
Celgene stock opened at $91.20 on Wednesday. Celgene has a 12 month low of $74.13 and a 12 month high of $147.17. The company has a debt-to-equity ratio of 5.76, a current ratio of 1.52 and a quick ratio of 1.40. The company has a market cap of $63.56 billion, a PE ratio of 13.33, a P/E/G ratio of 0.56 and a beta of 1.32.
Celgene (NASDAQ:CELG) last released its quarterly earnings results on Thursday, July 26th. The biopharmaceutical company reported $2.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.11 by $0.05. Celgene had a return on equity of 87.28% and a net margin of 19.81%. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the prior year, the business earned $1.82 earnings per share. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. sell-side analysts anticipate that Celgene will post 7.64 EPS for the current fiscal year.
Celgene announced that its board has approved a stock buyback program on Thursday, May 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the biopharmaceutical company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of equities analysts recently issued reports on CELG shares. Zacks Investment Research raised Celgene from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a report on Tuesday, May 1st. Evercore ISI reaffirmed a “buy” rating on shares of Celgene in a report on Monday, April 30th. Credit Suisse Group set a $129.00 price target on Celgene and gave the company a “buy” rating in a report on Saturday, May 5th. Leerink Swann reaffirmed a “buy” rating and issued a $115.00 price target (down from $123.00) on shares of Celgene in a report on Monday, May 7th. Finally, Barclays set a $107.00 price target on Celgene and gave the company a “buy” rating in a report on Sunday, May 6th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $121.85.
In other news, Director James J. Loughlin sold 17,750 shares of the company’s stock in a transaction that occurred on Monday, June 4th. The stock was sold at an average price of $78.96, for a total transaction of $1,401,540.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael D. Casey sold 13,000 shares of the company’s stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $78.77, for a total value of $1,024,010.00. Following the sale, the director now owns 27,750 shares of the company’s stock, valued at approximately $2,185,867.50. The disclosure for this sale can be found here. Insiders have sold 42,750 shares of company stock valued at $3,533,390 in the last 90 days. Company insiders own 0.39% of the company’s stock.
Celgene Company Profile
Celgene Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers.
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