Celgene Corporation (NASDAQ:CELG) announced the election of Mark Alles and Jacqualyn Fouse PhD to its Board of Directors.
Mr. Alles has been with Celgene since 2004, most recently serving as President and Chief Operating Officer (COO). Effective March 1, 2016, Mr. Alleswill be promoted to Chief Executive Officer, with Bob Hugin assuming the Executive Chairman role. Before serving as President and COO, Mr. Allesled Celgene’s Hematology and Oncology franchise. Dr. Fouse has been with Celgene since 2010, most recently serving as President of Celgene’s Hematology and Oncology franchise. Effective March 1, 2016, Dr. Fouse will be promoted to President and COO. Before serving as President of Celgene’s Hematology and Oncology franchise, Dr. Fouse served as Celgene’s Chief Financial Officer.
“Mark and Jackie are extremely accomplished leaders who bring a wealth of experience and judgment to our Board,” said Bob Hugin, Chairman and CEO of Celgene Corporation. “Their strategic vision and knowledge of our business will be highly valued as we continue to guide Celgene’s future.” (Original Source)
Shares of Celgene closed yesterday at $103.16, up $1.32 or 1.30%. CELG has a 1-year high of $140.72 and a 1-year low of $92.98. The stock’s 50-day moving average is $107.71 and its 200-day moving average is $116.09.
On the ratings front, Celgene has been the subject of a number of recent research reports. In a report issued on February 5, Leerink Swann analyst Howard Liang assigned a Hold rating on CELG. Separately, on February 1, William Blair’s John Sonnier reiterated a Buy rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Howard Liang and John Sonnier have a total average return of 19.0% and 0.9% respectively. Liang has a success rate of 54.0% and is ranked #105 out of 3569 analysts, while Sonnier has a success rate of 43.1% and is ranked #1321.
The street is mostly Bullish on CELG stock. Out of 14 analysts who cover the stock, 13 suggest a Buy rating and one recommends to Hold the stock. The 12-month average price target assigned to the stock is $150.33, which implies an upside of 45.7% from current levels.
Celgene Corp is a biopharmaceutical company. It is engaged in the discovery, development and commercialization of therapies designed to treat cancer and immune-inflammatory related diseases.