The stock of Celgene Corporation (NASDAQ:CELG) is a huge mover today! About 2.15M shares traded hands. Celgene Corporation (NASDAQ:CELG) has declined 1.20% since March 11, 2016 and is downtrending. It has underperformed by 6.66% the S&P500.
The move comes after 7 months negative chart setup for the $77.38 billion company. It was reported on Oct, 14 by Barchart.com. We have $92.35 PT which if reached, will make NASDAQ:CELG worth $5.42 billion less.
Analysts await Celgene Corporation (NASDAQ:CELG) to report earnings on November, 3. They expect $1.31 EPS, up 16.96% or $0.19 from last year’s $1.12 per share. CELG’s profit will be $1.02B for 18.95 P/E if the $1.31 EPS becomes a reality. After $1.28 actual EPS reported by Celgene Corporation for the previous quarter, Wall Street now forecasts 2.34% EPS growth.
Celgene Corporation (NASDAQ:CELG) Ratings Coverage
Out of 20 analysts covering Celgene Corporation (NASDAQ:CELG), 17 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 85% are positive. Celgene Corporation has been the topic of 36 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Raymond James initiated Celgene Corporation (NASDAQ:CELG) on Tuesday, September 1 with “Strong-Buy” rating. The stock has “Buy” rating given by BTIG Research on Thursday, August 4. Credit Suisse maintained it with “Outperform” rating and $140 target price in Tuesday, April 19 report. Canaccord Genuity maintained the stock with “Buy” rating in Friday, November 6 report. On Friday, November 6 the stock rating was maintained by UBS with “Buy”. The firm has “Buy” rating given on Friday, July 24 by UBS. The firm has “Outperform” rating given on Wednesday, August 12 by Cowen & Co. On Friday, February 5 the stock rating was initiated by Leerink Swann with “Market Perform”. Citigroup initiated the shares of CELG in a report on Thursday, February 25 with “Buy” rating. The rating was maintained by RBC Capital Markets on Friday, January 29 with “Outperform”.
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.”
Insitutional Activity: The institutional sentiment increased to 0.99 in 2016 Q2. Its up 0.06, from 0.93 in 2016Q1. The ratio improved, 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.
Planning, a California-based fund reported 11,911 shares. Pointstate Ltd Partnership holds 4.42% or 2.18M shares in its portfolio. Calamos Wealth Mgmt Limited Co has invested 0.44% of its portfolio in Celgene Corporation (NASDAQ:CELG). Pura Vida Investments Limited Company last reported 41,875 shares in the company. Dubuque Fincl Bank Co has 52,392 shares for 1% of their US portfolio. Arizona State Retirement Sys accumulated 0.26% or 190,018 shares. Moreover, Doheny Asset Ca has 2.75% invested in Celgene Corporation (NASDAQ:CELG) for 55,619 shares. Colony Gp Ltd Liability Corporation accumulated 0.21% or 19,083 shares. Moreover, First Allied Advisory has 0.42% invested in Celgene Corporation (NASDAQ:CELG) for 76,734 shares. Moreover, Teacher Retirement Of Texas has 0.3% invested in Celgene Corporation (NASDAQ:CELG) for 441,000 shares. Lee Danner & Bass Inc has 6,434 shares for 0.08% of their US portfolio. Swiss Savings Bank reported 2.19M shares or 0.35% of all its holdings. Forte Capital Ltd Adv accumulated 0.13% or 3,512 shares. The Ohio-based Winfield Associate has invested 0.01% in Celgene Corporation (NASDAQ:CELG). Moreover, Quantbot Technologies Ltd Partnership has 0.1% invested in Celgene Corporation (NASDAQ:CELG) for 9,666 shares.
Insider Transactions: Since July 28, 2016, the stock had 0 insider buys, and 7 selling transactions for $29.76 million net activity. $2.22M worth of Celgene Corporation (NASDAQ:CELG) was sold by BARKER RICHARD W. $1.64 million worth of Celgene Corporation (NASDAQ:CELG) shares were sold by MARIO ERNEST. The insider HUGIN ROBERT J sold $11.00 million. $3.14M worth of Celgene Corporation (NASDAQ:CELG) was sold by LOUGHLIN JAMES J. 9,710 shares were sold by KAPLAN GILLA, worth $1.03 million. CASEY MICHAEL D also sold $4.92 million worth of Celgene Corporation (NASDAQ:CELG) shares. On Monday, October 3 Friedman Michael A sold $5.82M worth of the stock or 56,116 shares.
Another recent and important Celgene Corporation (NASDAQ:CELG) news was published by Profitconfidential.com which published an article titled: “Celgene Corporation: CELG Stock Charts Are a Must-See” on September 21, 2016.
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.
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