Traders Buy Shares of Celgene (CELG) on Weakness

Investors purchased shares of Celgene Co. (NASDAQ:CELG) on weakness during trading hours on Thursday. $154.03 million flowed into the stock on the tick-up and $116.89 million flowed out of the stock on the tick-down, for a money net flow of $37.14 million into the stock. Of all equities tracked, Celgene had the 7th highest net in-flow for the day. Celgene traded down ($0.88) for the day and closed at $104.58

A number of brokerages recently weighed in on CELG. Royal Bank of Canada reissued a “buy” rating and set a $173.00 target price on shares of Celgene in a research note on Thursday, October 5th. Morgan Stanley downgraded shares of Celgene from an “equal weight” rating to an “underweight” rating and set a $120.00 target price for the company. in a research note on Thursday, October 5th. Robert W. Baird reissued a “buy” rating and set a $162.00 target price on shares of Celgene in a research note on Thursday, September 21st. Cantor Fitzgerald reissued a “buy” rating and set a $162.00 target price on shares of Celgene in a research note on Tuesday, September 26th. Finally, Jefferies Group reissued a “buy” rating and set a $160.00 target price on shares of Celgene in a research note on Friday, September 15th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $131.18.

The firm has a market capitalization of $83,460.00, a price-to-earnings ratio of 25.00, a PEG ratio of 0.67 and a beta of 1.77. The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.52 and a current ratio of 3.65.

Celgene (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.04. The firm had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.42 billion. Celgene had a net margin of 27.36% and a return on equity of 63.80%. The business’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the company earned $1.58 earnings per share. equities research analysts predict that Celgene Co. will post 6.69 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Grisanti Capital Management LLC bought a new position in shares of Celgene during the second quarter valued at about $3,616,000. RiverPoint Capital Management LLC lifted its position in shares of Celgene by 3.1% during the second quarter. RiverPoint Capital Management LLC now owns 121,654 shares of the biopharmaceutical company’s stock valued at $15,799,000 after purchasing an additional 3,680 shares in the last quarter. LSV Asset Management bought a new position in shares of Celgene during the second quarter valued at about $1,701,000. Spectrum Management Group Inc. bought a new position in shares of Celgene during the second quarter valued at about $462,000. Finally, Polen Capital Management LLC lifted its position in shares of Celgene by 7.7% during the second quarter. Polen Capital Management LLC now owns 5,082,991 shares of the biopharmaceutical company’s stock valued at $660,128,000 after purchasing an additional 363,108 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

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About Celgene

Celgene Corporation is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is engaged in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.

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