The 24 analysts offering 12-month price forecasts for Celgene have a median target of 137.00, with a high estimate of 162.00 and a low estimate of 84.00. The Motley Fool owns shares of and recommends Celgene.
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As of current trade, Celgene Corporation (NASDAQ:CELG) has shown weekly upbeat performance of 3.55%. The firm has a SMA 50 (Simple Moving Average) of $102.11 and a SMA 200-(Simple Moving Average) of $102.92.
Price Momentum: Despite the 1.82% increase in value, the stock’s new closing price represents a -20.74% fall in value from company’s one year high of $133.59.
Shares of Celgene Corporation (NASDAQ: CELG) were trading higher by 0.43 percent at $108.11 after the company reported its second-quarter results. The biopharmaceutical company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.06. During the same period a year ago, the firm earned $1.23 earnings per share.
Total revenue rose about 21 percent to US$2.75 billion in the quarter, roughly in line with estimates.
“If that data looks good, we think that could be a big catalyst for the stock”, said RBC Capital Markets analyst Michael Yee, who called it a potential US$2 billion a year product.
The company on Thursday raised its adjusted earnings forecast for 2016 to a range of $5.70-$5.75 per share, from $5.60-$5.70. South Dakota Investment Council purchased a new stake in shares of Celgene Corp. during the fourth quarter valued at about $2,246,000. The heightened volatility saw the trading volume jump to 83,30,698 shares. The stock’s institutional ownership stands at 77.90%.
In other news, insider Robert J. Hugin sold 75,000 shares of the stock in a transaction on Monday, June 20th. The stock was sold at an average price of $100.16, for a total transaction of $7,512,000.00. The Hedge Fund company now holds 1,425 shares of CELG which is valued at $153,216. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Several other research analysts also recently issued reports on CELG. Raymond James Financial Inc. reiterated a “buy” rating on shares of Celgene Corp.in a research note on Thursday, April 28th. 1 analysts have suggested “Sell” for the company. The Corporation has average brokerage recommendation (ABR) of 0 based on consensus of the brokerage firms issuing ratings.
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Celgene Corporation (Celgene) together with its subsidiaries is an integrated biopharmaceutical company engaged primarily in the discovery development and commercialization of therapies for the treatment of cancer and inflammatory diseases through gene and protein regulation.
