Celgene (NASDAQ:CELG) Cut to Neutral at Mizuho

Mizuho cut shares of Celgene (NASDAQ:CELG) from a buy rating to a neutral rating in a report published on Monday morning, The Fly reports. Mizuho currently has $100.00 price target on the biopharmaceutical company’s stock, down from their prior price target of $103.00.

Several other equities analysts have also recently weighed in on CELG. ValuEngine cut shares of Celgene from a sell rating to a strong sell rating in a research note on Thursday, August 1st. Zacks Investment Research raised shares of Celgene from a sell rating to a hold rating and set a $94.00 target price for the company in a research note on Tuesday, July 23rd. Barclays cut shares of Celgene from an overweight rating to an equal weight rating and set a $102.00 target price for the company. in a research note on Friday, May 3rd. BidaskClub raised shares of Celgene from a strong sell rating to a sell rating in a research note on Saturday, August 3rd. Finally, Cowen reissued a hold rating and issued a $102.00 target price on shares of Celgene in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and three have given a buy rating to the company’s stock. Celgene has an average rating of Hold and an average price target of $94.60.

Shares of CELG opened at $95.68 on Monday. The stock has a market capitalization of $67.15 billion, a P/E ratio of 12.57, a P/E/G ratio of 0.44 and a beta of 1.46. Celgene has a twelve month low of $58.59 and a twelve month high of $98.97. The company has a 50 day moving average of $93.03 and a 200-day moving average of $92.61. The company has a quick ratio of 3.32, a current ratio of 3.44 and a debt-to-equity ratio of 1.97.

Celgene (NASDAQ:CELG) last issued its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.17. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.22 billion. Celgene had a net margin of 32.24% and a return on equity of 89.93%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period last year, the business earned $2.16 EPS. On average, sell-side analysts anticipate that Celgene will post 9.96 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in CELG. Archford Capital Strategies LLC lifted its holdings in Celgene by 277.8% during the 1st quarter. Archford Capital Strategies LLC now owns 272 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Liberty Wealth Management LLC lifted its holdings in Celgene by 212.8% during the 2nd quarter. Liberty Wealth Management LLC now owns 294 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 200 shares during the last quarter. Investors Research Corp acquired a new stake in Celgene during the 1st quarter valued at $28,000. Weaver Consulting Group acquired a new stake in Celgene during the 1st quarter valued at $29,000. Finally, Alera Investment Advisors LLC lifted its holdings in Celgene by 109.9% during the 1st quarter. Alera Investment Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 167 shares during the last quarter. 74.04% of the stock is owned by institutional investors and hedge funds.

About Celgene

Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes 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 to treat breast, non-small cell lung, pancreatic, and gastric cancers.

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