Rating Change: Celgene (NASDAQ:CELG) Is A Stock Oppenheimer Is Interested In

November 29, 2016 - By Dolores Ford

Rating Change: Celgene (NASDAQ:CELG) Is A Stock Oppenheimer Is Interested In

Why Oppenheimer Gives Celgene (NASDAQ:CELG) $141.00 Price Target

Oppenheimer revealed to investors and clients in a research report that it has started coverage on Celgene (NASDAQ:CELG) stock, with a “Outperform” rating and a $141.00 target price.

Celgene Corporation (NASDAQ:CELG) Ratings Coverage

Out of 21 analysts covering Celgene Corporation (NASDAQ:CELG), 17 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 81% are positive. $190 is the highest target while $83 is the lowest. The $136.89 average target is 11.94% above today’s ($122.29) stock price. Celgene Corporation has been the topic of 38 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Cowen & Co maintained the stock with “Outperform” rating in Wednesday, August 12 report. The stock of Celgene Corporation (NASDAQ:CELG) earned “Buy” rating by Citigroup on Thursday, February 25. The rating was maintained by Citigroup on Thursday, September 29 with “Buy”. The firm has “Buy” rating by Suntrust Robinson given on Friday, April 29. The rating was initiated by Stifel Nicolaus with “Buy” on Friday, July 15. RBC Capital Markets maintained Celgene Corporation (NASDAQ:CELG) on Friday, January 29 with “Outperform” rating. The stock has “Buy” rating given by UBS on Friday, July 24. Canaccord Genuity maintained Celgene Corporation (NASDAQ:CELG) on Friday, November 6 with “Buy” rating. As per Friday, December 4, the company rating was maintained by Wells Fargo. On Friday, November 6 the stock rating was maintained by UBS with “Buy”.

About 2.49 million shares traded hands. Celgene Corporation (NASDAQ:CELG) has risen 11.85% since April 26, 2016 and is uptrending. It has outperformed by 6.60% the S&P500.

Analysts await Celgene Corporation (NASDAQ:CELG) to report earnings on January, 26. They expect $1.42 earnings per share, up 42.00% or $0.42 from last year’s $1 per share. CELG’s profit will be $1.09 billion for 21.54 P/E if the $1.42 EPS becomes a reality. After $1.39 actual earnings per share reported by Celgene Corporation for the previous quarter, Wall Street now forecasts 2.16% EPS growth.

Insitutional Activity: The institutional sentiment increased to 1.11 in Q2 2016. Its up 0.12, from 0.99 in 2016Q1. The ratio is positive, as 70 funds sold all Celgene Corporation shares owned while 411 reduced positions. 60 funds bought stakes while 418 increased positions. They now own 587.22 million shares or 5.24% less from 619.66 million shares in 2016Q1.

Utah Retirement Systems holds 140,732 shares or 0.37% of its portfolio. Clearbridge Limited Liability has 1,300 shares for 0% of their US portfolio. Moreover, Herndon Capital Mngmt Ltd Com has 0.03% invested in Celgene Corporation (NASDAQ:CELG) for 9,198 shares. Dowling Yahnke Limited Liability Co holds 0.29% or 24,686 shares in its portfolio. The California-based Wells Fargo & Mn has invested 0.26% in Celgene Corporation (NASDAQ:CELG). Moreover, Bryn Mawr Trust Co has 0.07% invested in Celgene Corporation (NASDAQ:CELG) for 11,768 shares. Waddell Reed Financial Incorporated, a Kansas-based fund reported 3.21 million shares. Abner Herrman Brock Ltd Liability Co has 93,145 shares for 2.24% of their US portfolio. Vident Inv Advisory Ltd Limited Liability Company holds 0.19% of its portfolio in Celgene Corporation (NASDAQ:CELG) for 12,307 shares. Texas Yale Capital, a Florida-based fund reported 3,146 shares. Jackson Wealth Mngmt Lc accumulated 12,773 shares or 0.47% of the stock. Dimensional Fund Advsrs L P holds 0.08% or 1.41 million shares in its portfolio. Greystone Managed Invests Inc holds 55,818 shares or 0.22% of its portfolio. Allen Invest Mngmt accumulated 5,176 shares or 0.04% of the stock. Teewinot Advisers Ltd Co owns 38,982 shares or 3.15% of their US portfolio.

Insider Transactions: Since July 28, 2016, the stock had 0 insider purchases, and 10 sales for $46.59 million net activity. The insider CASEY MICHAEL D sold $4.92 million. LOUGHLIN JAMES J had sold 27,500 shares worth $3.14M. Shares for $2.67M were sold by PEHL MICHAEL F. on Thursday, November 10. 15,000 shares were sold by MARIO ERNEST, worth $1.64M. 9,710 shares were sold by KAPLAN GILLA, worth $1.03M on Thursday, September 15. On Friday, September 23 the insider BARKER RICHARD W sold $2.22M. Shares for $12.00 million were sold by HUGIN ROBERT J on Wednesday, November 9.

Celgene Corporation is a biopharmaceutical company. The company has a market cap of $94.20 billion. The Firm 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. It has a 46.35 P/E ratio. The Company’s primary commercial stage products include REVLIMID (lenalidomide), ABRAXANE (paclitaxel albumin-bound particles for injectable suspension), POMALYST/IMNOVID (pomalidomide), VIDAZA, azacitidine for injection (generic version of VIDAZA), THALOMID (thalidomide), OTEZLA (apremilast) and ISTODAX (romidepsin).

According to Zacks Investment Research, “Celgene Corp. is an independent biopharmaceutical company engaged primarily in the discovery, development and commercialization of orally administered, small molecule drugs for the treatment of cancer and immunological diseases.”

CELG Company Profile

Celgene Corporation (Celgene), incorporated on April 17, 1986, is a biopharmaceutical company. The Firm 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. The Company’s primary commercial stage products include REVLIMID (lenalidomide), ABRAXANE (paclitaxel albumin-bound particles for injectable suspension), POMALYST/IMNOVID (pomalidomide), VIDAZA, azacitidine for injection (generic version of VIDAZA), THALOMID (thalidomide), OTEZLA (apremilast) and ISTODAX (romidepsin). The Company’s clinical trial activity includes trials across the disease areas of hematology, oncology, and inflammation and immunology. Celgene is involved in research in a range of scientific areas designed to deliver therapies, targeting areas, including intracellular signaling pathways, protein homeostasis and epigenetics in cancer and immune cells, immunomodulation in cancer and autoimmune diseases, and therapeutic application of cell therapies.

More notable recent Celgene Corporation (NASDAQ:CELG) news were published by: Fool.com which released: “Better Buy: Celgene Corporation vs. Merck & Co.” on November 25, 2016, also Fool.com with their article: “Better Buy: Biogen Inc. vs. Celgene Corporation” published on November 15, 2016, Fool.com published: “3 Compelling Reasons to Buy Celgene Corporation Stock Right Now” on November 17, 2016. More interesting news about Celgene Corporation (NASDAQ:CELG) were released by: Businesswire.com and their article: “Celgene Corporation to Webcast an Analyst and Investor Event from the American …” published on November 21, 2016 as well as Fool.com‘s news article titled: “Better Buy: Celgene Corporation vs. Bristol-Myers Squibb” with publication date: November 18, 2016.

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