In a report released yesterday, Ronnie Moas from Standpoint Research upgraded Celgene (NASDAQ: CELG) to Buy. The company’s shares closed yesterday at $77.73, close to its 52-week low of $74.13.
According to TipRanks.com, Moas is a 5-star analyst with an average return of 5.9% and a 69.7% success rate. Moas covers the Consumer Goods sector, focusing on stocks such as LyondellBasell, F5 Networks, and Flex Ltd.
Currently, the analyst consensus on Celgene is Moderate Buy and the average price target is $116, representing a 49.2% upside.
In a report issued on June 3, Oppenheimer also assigned a Buy rating to the stock with a $163 price target.
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Based on Celgene’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.57 billion and net profit of $846 million. In comparison, last year the company earned revenue of $2.87 billion and had a net profit of $941 million.
Based on the recent corporate insider activity of 72 insiders, corporate insider sentiment is neutral on the stock. Last 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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