Celgene (CELG) Hits New 1-Year Low at $67.55

Celgene Co. (NASDAQ:CELG) shares reached a new 52-week low on Tuesday . The company traded as low as $67.55 and last traded at $68.10, with a volume of 3789783 shares traded. The stock had previously closed at $69.40.

A number of research analysts have weighed in on CELG shares. Zacks Investment Research downgraded Celgene from a “buy” rating to a “hold” rating in a report on Wednesday, September 26th. Mizuho set a $117.00 target price on Celgene and gave the stock a “buy” rating in a report on Tuesday, October 30th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Celgene in a report on Thursday, October 11th. UBS Group set a $94.00 target price on Celgene and gave the stock a “buy” rating in a report on Saturday, October 27th. Finally, Leerink Swann set a $112.00 target price on Celgene and gave the stock a “hold” rating in a report on Friday, October 26th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Celgene currently has a consensus rating of “Buy” and a consensus target price of $116.99.

The company has a quick ratio of 1.99, a current ratio of 2.13 and a debt-to-equity ratio of 4.06. The company has a market capitalization of $46.68 billion, a price-to-earnings ratio of 9.87, a P/E/G ratio of 0.41 and a beta of 1.53.

Celgene (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, October 25th. The biopharmaceutical company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.27. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.83 billion. Celgene had a return on equity of 108.76% and a net margin of 19.64%. On average, analysts forecast that Celgene Co. will post 7.45 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley raised its holdings in Celgene by 20.4% in the 3rd quarter. Morgan Stanley now owns 3,236,323 shares of the biopharmaceutical company’s stock worth $289,620,000 after purchasing an additional 549,404 shares during the period. Buckingham Capital Management Inc. raised its holdings in Celgene by 3.3% in the 3rd quarter. Buckingham Capital Management Inc. now owns 34,080 shares of the biopharmaceutical company’s stock worth $3,050,000 after purchasing an additional 1,074 shares during the period. Griffin Asset Management Inc. raised its holdings in Celgene by 51.2% in the 3rd quarter. Griffin Asset Management Inc. now owns 15,445 shares of the biopharmaceutical company’s stock worth $1,382,000 after purchasing an additional 5,230 shares during the period. B. Riley Wealth Management Inc. bought a new position in Celgene in the 3rd quarter worth $1,574,000. Finally, Neuberger Berman Group LLC raised its holdings in Celgene by 2.6% in the 3rd quarter. Neuberger Berman Group LLC now owns 408,133 shares of the biopharmaceutical company’s stock worth $36,524,000 after purchasing an additional 10,316 shares during the period. 73.87% of the stock is currently owned by institutional investors and hedge funds.

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Celgene Company Profile (NASDAQ:CELG)

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.

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