Celgene (NASDAQ: CELG) was downgraded by equities research analysts at WallachBeth Capital from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, TheFlyOnTheWall.com reports. The analysts noted that the move was a valuation call.
A number of other firms have also recently commented on CELG. Analysts at TheStreet reiterated a “buy” rating on shares of Celgene in a research note to investors on Tuesday, March 19th. Separately, analysts at Bank of America reiterated a “buy” rating on shares of Celgene in a research note to investors on Monday, March 11th. They now have a $127.00 price target on the stock, up previously from $113.00. Finally, analysts at Bank of America set a $113.00 price target on shares of Celgene in a research note to investors on Monday, March 11th.
Nine equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Celgene presently has an average rating of “Buy” and an average price target of $106.25.
Celgene (NASDAQ: CELG) opened at 113.13 on Monday. Celgene has a 1-year low of $58.53 and a 1-year high of $115.44. The stock’s 50-day moving average is currently $104.9. The company has a market cap of $47.373 billion and a price-to-earnings ratio of 34.28.
Celgene (NASDAQ: CELG) last released its earnings data on Thursday, January 24th. The company reported $1.32 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.31 by $0.01. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the company posted $1.05 earnings per share. Celgene’s revenue was up 14.0% compared to the same quarter last year. Celgene has set its FY13 guidance at $5.50-5.60 EPS. On average, analysts predict that Celgene will post $5.68 earnings per share for the current fiscal year.
Celgene Corporation is a global biopharmaceutical company engaged in the discovery, development and commercialization of therapies designed to treat cancer and immune-inflammatory related diseases.