BidaskClub Lowers Celgene (NASDAQ:CELG) to Strong Sell

Posted by Clifford Jones on Jan 3rd, 2019 // No Comments

Celgene (NASDAQ:CELG) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday, December 27th.

Other equities analysts have also issued research reports about the company. restated a “buy” rating on shares of Celgene in a research note on Monday, December 3rd. Mizuho set a $117.00 price target on Celgene and gave the company a “buy” rating in a research note on Tuesday, October 30th. UBS Group set a $94.00 target price on Celgene and gave the company a “buy” rating in a research note on Saturday, October 27th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Celgene in a research note on Thursday, October 25th. Finally, Morgan Stanley cut their target price on Celgene from $93.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 19th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $115.19.

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Shares of CELG opened at $66.64 on Thursday. The firm has a market capitalization of $44.82 billion, a P/E ratio of 9.74, a P/E/G ratio of 0.32 and a beta of 1.43. Celgene has a 52-week low of $58.59 and a 52-week high of $109.98. The company has a quick ratio of 1.99, a current ratio of 2.13 and a debt-to-equity ratio of 4.06.

Celgene (NASDAQ:CELG) last released its earnings results on Thursday, October 25th. The biopharmaceutical company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.27. Celgene had a return on equity of 108.76% and a net margin of 19.64%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.83 billion. On average, sell-side analysts anticipate that Celgene will post 7.45 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CELG. Carillon Tower Advisers Inc. acquired a new position in Celgene during the 2nd quarter worth about $2,191,000. Ferguson Wellman Capital Management Inc. acquired a new position in Celgene during the 2nd quarter worth about $268,000. Hunter Associates Investment Management LLC lifted its stake in Celgene by 12.5% during the 2nd quarter. Hunter Associates Investment Management LLC now owns 34,316 shares of the biopharmaceutical company’s stock worth $2,725,000 after acquiring an additional 3,825 shares in the last quarter. Edgewood Management LLC lifted its stake in Celgene by 16.2% during the 2nd quarter. Edgewood Management LLC now owns 13,924,544 shares of the biopharmaceutical company’s stock worth $1,105,887,000 after acquiring an additional 1,943,607 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Celgene by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,870,847 shares of the biopharmaceutical company’s stock worth $148,556,000 after acquiring an additional 27,542 shares in the last quarter. 72.86% of the stock is currently 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.