Celgene Corporation (CELG) Downgraded by Citigroup Inc. to Neutral

Citigroup Inc. downgraded shares of Celgene Corporation (NASDAQ:CELG) from a buy rating to a neutral rating in a research note published on Friday.

CELG has been the subject of several other research reports. Oppenheimer Holdings, Inc. reaffirmed an outperform rating and issued a $175.00 target price (up previously from $148.00) on shares of Celgene Corporation in a report on Monday, July 31st. Cantor Fitzgerald set a $160.00 target price on shares of Celgene Corporation and gave the stock a buy rating in a report on Thursday, July 27th. BMO Capital Markets reaffirmed an outperform rating and issued a $160.00 target price (up previously from $152.00) on shares of Celgene Corporation in a report on Friday, July 28th. Mizuho set a $134.00 target price on shares of Celgene Corporation and gave the stock a buy rating in a report on Wednesday, July 26th. Finally, Vetr downgraded shares of Celgene Corporation from a buy rating to a hold rating and set a $145.17 target price for the company. in a report on Wednesday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-two have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $150.43.

Shares of Celgene Corporation (NASDAQ:CELG) traded down 10.76% during midday trading on Friday, hitting $121.33. The company had a trading volume of 27,765,072 shares. The stock has a 50 day moving average price of $140.79 and a 200 day moving average price of $130.41. The firm has a market capitalization of $94.92 billion, a P/E ratio of 37.58 and a beta of 1.88. Celgene Corporation has a 1-year low of $96.93 and a 1-year high of $147.17.

Celgene Corporation (NASDAQ:CELG) last issued its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.21. The company had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.23 billion. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. Celgene Corporation’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.44 EPS. On average, equities analysts anticipate that Celgene Corporation will post $7.33 EPS for the current fiscal year.

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In related news, insider Terrie Curran sold 1,727 shares of the stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $143.89, for a total value of $248,498.03. Following the sale, the insider now directly owns 3,925 shares of the company’s stock, valued at approximately $564,768.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ernest Mario sold 18,506 shares of the stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $130.52, for a total transaction of $2,415,403.12. Following the completion of the sale, the director now directly owns 69,424 shares in the company, valued at $9,061,220.48. The disclosure for this sale can be found here. Insiders sold a total of 46,233 shares of company stock worth $6,268,259 over the last three months. 0.95% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Celgene Corporation by 5.7% in the 2nd quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock worth $7,366,919,000 after purchasing an additional 3,084,227 shares during the period. Vanguard Group Inc. raised its position in Celgene Corporation by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock worth $6,951,579,000 after purchasing an additional 1,610,056 shares during the period. State Street Corp raised its position in Celgene Corporation by 2.3% in the 1st quarter. State Street Corp now owns 32,473,417 shares of the biopharmaceutical company’s stock worth $4,040,668,000 after purchasing an additional 723,844 shares during the period. Jennison Associates LLC raised its position in Celgene Corporation by 1.2% in the 2nd quarter. Jennison Associates LLC now owns 13,415,734 shares of the biopharmaceutical company’s stock worth $1,742,301,000 after purchasing an additional 156,864 shares during the period. Finally, FMR LLC raised its position in Celgene Corporation by 5.9% in the 2nd quarter. FMR LLC now owns 12,594,467 shares of the biopharmaceutical company’s stock worth $1,635,643,000 after purchasing an additional 697,250 shares during the period. 79.24% of the stock is currently owned by institutional investors.

Celgene Corporation Company Profile

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.

Analyst Recommendations for Celgene Corporation (NASDAQ:CELG)

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