Celgene (CELG) Rating Lowered to Strong Sell at BidaskClub

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Celgene (NASDAQ:CELG) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Saturday.

Several other analysts have also weighed in on CELG. Morgan Stanley lifted their target price on shares of Celgene from $90.00 to $91.00 and gave the company an “equal weight” rating in a research report on Friday, July 13th. Leerink Swann set a $112.00 price target on shares of Celgene and gave the company a “hold” rating in a research report on Friday, October 26th. SunTrust Banks restated a “hold” rating and issued a $101.00 price target on shares of Celgene in a research report on Friday, July 27th. UBS Group set a $94.00 price target on shares of Celgene and gave the company a “buy” rating in a research report on Saturday, October 27th. Finally, Zacks Investment Research upgraded shares of Celgene from a “sell” rating to a “strong-buy” rating and set a $102.00 price target on the stock in a research report on Wednesday, August 1st. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Celgene currently has an average rating of “Buy” and an average price target of $117.91.

Shares of Celgene stock opened at $74.02 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.99 and a debt-to-equity ratio of 4.06. Celgene has a twelve month low of $70.09 and a twelve month high of $110.81. The stock has a market cap of $52.51 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 0.46 and a beta of 1.53.

Celgene (NASDAQ:CELG) last issued its earnings results on Thursday, October 25th. The biopharmaceutical company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.27. Celgene had a net margin of 19.64% and a return on equity of 108.76%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.83 billion. Research analysts forecast that Celgene will post 7.45 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Canada Pension Plan Investment Board raised its stake in shares of Celgene by 41.7% during the third quarter. Canada Pension Plan Investment Board now owns 2,057,562 shares of the biopharmaceutical company’s stock worth $184,131,000 after buying an additional 605,500 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Celgene by 1.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 693,419 shares of the biopharmaceutical company’s stock worth $65,630,000 after buying an additional 9,704 shares during the last quarter. CIBC World Markets Inc. raised its stake in shares of Celgene by 89.4% during the third quarter. CIBC World Markets Inc. now owns 240,321 shares of the biopharmaceutical company’s stock worth $21,506,000 after buying an additional 113,411 shares during the last quarter. FMR LLC raised its stake in shares of Celgene by 26.0% during the third quarter. FMR LLC now owns 10,279,258 shares of the biopharmaceutical company’s stock worth $919,890,000 after buying an additional 2,119,257 shares during the last quarter. Finally, BSW Wealth Partners bought a new stake in shares of Celgene during the third quarter worth approximately $280,000. 73.58% of the stock is owned by institutional investors.

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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