Cantor Fitzgerald analyst Mara Goldstein maintained a Hold rating on Celgene (NASDAQ: CELG) yesterday and set a price target of $112. The company’s shares closed yesterday at $79.54, close to its 52-week low of $74.13.
Goldstein observed:
“. We maintain a Neutral rating and a $112 PT on CELG. The shares have weakened considerably over the last few weeks, which presents a value opportunity, in our view. However, we continue to believe that the company’s valuation will be constrained by concerns about key patent expirations and pipeline execution.”
According to TipRanks.com, Goldstein is a 1-star analyst with an average return of -0.3% and a 38.7% success rate. Goldstein covers the Healthcare sector, focusing on stocks such as Corvus Pharmaceuticals Inc, Karyopharm Therapeutics, and CytomX Therapeutics Inc.
Currently, the analyst consensus on Celgene is Moderate Buy and the average price target is $116.13, representing a 46.0% upside.
In a report issued on May 23, Argus Research also downgraded the stock to Hold.
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The company has a one-year high of $147.17 and a one-year low of $74.13. Currently, Celgene has an average volume of 7.36M.
Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is neutral on the stock. Earlier this month, Gilla Kaplan, a Director at CELG sold 27,750 shares for a total of $2,182,538.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Celgene Corp. is an integrated global biopharmaceutical company, which engages in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases. Its targeting areas include intracellular signaling pathways, protein homeostasis and epigenetics in cancer and immune cells, immunomodulation in cancer and autoimmune diseases and therapeutic application of cell therapies. The company’s products include Revlimid, Vidaza, Thalomid, Pomalyst/Imnovid, Abraxane, and Istodax. Celgene was founded by David Stirling and Sol Barer in 1986 and is headquartered in Summit, NJ.
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