Stock analysts at Oppenheimer Holdings Inc. began coverage on shares of Celgene Corp. (NASDAQ:CELG) in a report issued on Tuesday. The brokerage set an “outperform” rating and a $141.00 price target on the biopharmaceutical company’s stock. Oppenheimer Holdings Inc.’s price target would indicate a potential upside of 18.98% from the company’s previous close.

CELG has been the topic of several other reports. Argus reissued a “buy” rating and set a $155.00 target price on shares of Celgene Corp. in a research report on Wednesday, September 7th. Leerink Swann reissued a “market perform” rating and set a $135.00 target price on shares of Celgene Corp. in a research report on Monday, September 12th. Stifel Nicolaus reissued a “buy” rating and set a $138.00 target price on shares of Celgene Corp. in a research report on Tuesday, August 2nd. Vetr downgraded shares of Celgene Corp. from a “buy” rating to a “hold” rating and set a $125.81 target price on the stock. in a research report on Monday. Finally, Piper Jaffray Cos. reissued a “buy” rating on shares of Celgene Corp. in a research report on Tuesday, October 18th. Four research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $136.77.

Analyst Recommendations for Celgene Corp. (NASDAQ:CELG)

Shares of Celgene Corp. (NASDAQ:CELG) opened at 118.51 on Tuesday. The firm has a market cap of $91.87 billion, a PE ratio of 45.01 and a beta of 1.71. Celgene Corp. has a 52 week low of $93.05 and a 52 week high of $127.00. The firm’s 50-day moving average price is $108.88 and its 200 day moving average price is $106.73.

Celgene Corp. (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, October 27th. The biopharmaceutical company reported $1.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.10. Celgene Corp. had a net margin of 19.71% and a return on equity of 70.48%. The business had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the prior year, the business posted $1.23 earnings per share. Celgene Corp.’s revenue for the quarter was up 27.8% compared to the same quarter last year. Equities analysts anticipate that Celgene Corp. will post $5.92 EPS for the current year.

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In related news, major shareholder Corp /De/ Celgene acquired 800,150 shares of the business’s stock in a transaction that occurred on Monday, October 24th. The shares were acquired at an average cost of $14.00 per share, with a total value of $11,202,100.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael A. Friedman sold 56,116 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $103.66, for a total transaction of $5,816,984.56. Following the completion of the sale, the director now directly owns 50,000 shares in the company, valued at $5,183,000. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Celgene Corp. by 0.8% in the second quarter. Vanguard Group Inc. now owns 47,833,717 shares of the biopharmaceutical company’s stock valued at $4,717,840,000 after buying an additional 395,600 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Celgene Corp. by 2.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 20,712,785 shares of the biopharmaceutical company’s stock valued at $2,165,107,000 after buying an additional 471,143 shares in the last quarter. Jennison Associates LLC boosted its stake in Celgene Corp. by 14.1% in the third quarter. Jennison Associates LLC now owns 15,921,002 shares of the biopharmaceutical company’s stock valued at $1,664,222,000 after buying an additional 1,967,645 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Celgene Corp. by 3.4% in the third quarter. BlackRock Fund Advisors now owns 15,575,165 shares of the biopharmaceutical company’s stock valued at $1,628,072,000 after buying an additional 508,334 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Celgene Corp. by 2.5% in the third quarter. Northern Trust Corp now owns 10,714,220 shares of the biopharmaceutical company’s stock valued at $1,119,957,000 after buying an additional 261,176 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

About Celgene Corp.

Celgene Corporation (Celgene) is a biopharmaceutical company. The Company together with its subsidiaries is engaged primarily 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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