The stock of Celgene Corporation (NASDAQ:CELG) hit a new 52-week high and has $184.83 target or 58.00% above today’s $116.98 share price. The 5 months bullish chart indicates low risk for the $91.50 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $184.83 price target is reached, the company will be worth $53.07 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 10.93 million shares traded hands or 158.39% up from the average. Celgene Corporation (NASDAQ:CELG) has risen 1.25% since April 7, 2016 and is uptrending. It has underperformed by 3.53% the S&P500.
Celgene Corporation (NASDAQ:CELG) Ratings Coverage
Out of 21 analysts covering Celgene Corporation (NASDAQ:CELG), 18 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 86% are positive. $190 is the highest target while $83 is the lowest. The $136.89 average target is 17.02% above today’s ($116.98) stock price. Celgene Corporation has been the topic of 37 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Thursday, January 7 by Suntrust Robinson. As per Friday, November 6, the company rating was maintained by Canaccord Genuity. Suntrust Robinson maintained it with “Buy” rating and $147 target price in Friday, April 29 report. As per Friday, July 24, the company rating was maintained by Cantor Fitzgerald. JMP Securities maintained Celgene Corporation (NASDAQ:CELG) rating on Friday, July 24. JMP Securities has “Mkt Outperform” rating and $147 price target. The stock has “Outperform” rating given by Credit Suisse on Tuesday, April 19. Wells Fargo maintained the stock with “Outperform” rating in Friday, December 4 report. The firm has “Outperform” rating by Cowen & Co given on Wednesday, August 12. On Friday, November 6 the stock rating was maintained by UBS with “Buy”. As per Friday, February 5, the company rating was initiated by Leerink Swann.
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 Q2 2016. Its up 0.06, from 0.93 in 2016Q1. The ratio is positive, 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.
Cibc Ww Markets has 0.03% invested in the company for 64,822 shares. Trexquant Inv Lp has invested 0.26% of its portfolio in Celgene Corporation (NASDAQ:CELG). American International Grp Inc Inc Inc reported 352,202 shares or 0% of all its holdings. Moreover, Ls Advsr Lc has 0.07% invested in Celgene Corporation (NASDAQ:CELG) for 10,690 shares. Crestpoint Mgmt Ltd Limited Liability Company has 0.13% invested in the company for 2,500 shares. Cape Cod Five Cents Commercial Bank last reported 2,815 shares in the company. Condor Cap Management last reported 0.49% of its portfolio in the stock. Oak Ridge Invests Ltd Limited Liability Company has invested 0.48% of its portfolio in Celgene Corporation (NASDAQ:CELG). Logan Cap holds 109,740 shares or 0.91% of its portfolio. Old Mutual Customised Solutions (Proprietary) holds 13,800 shares or 0.34% of its portfolio. Carnegie Asset Ltd Liability last reported 9,888 shares in the company. Shell Asset Mngmt Company, a Netherlands-based fund reported 139,629 shares. Bessemer Gp Incorporated holds 0.01% of its portfolio in Celgene Corporation (NASDAQ:CELG) for 16,892 shares. Nelson Roberts Investment Advsr Ltd Limited Liability Company reported 25,067 shares or 0.93% of all its holdings. Boltwood Mngmt owns 5,795 shares or 0.48% of their US portfolio.
Insider Transactions: Since July 28, 2016, the stock had 0 buys, and 7 sales for $29.76 million net activity. Another trade for 9,710 shares valued at $1.03M was sold by KAPLAN GILLA. MARIO ERNEST sold $1.64M worth of stock or 15,000 shares. CASEY MICHAEL D sold $4.92M worth of stock or 43,134 shares. 20,000 shares were sold by BARKER RICHARD W, worth $2.22M on Friday, September 23. Shares for $11.00 million were sold by HUGIN ROBERT J. The insider Friedman Michael A sold 56,116 shares worth $5.82M. LOUGHLIN JAMES J sold $3.14 million worth of Celgene Corporation (NASDAQ:CELG) on Tuesday, August 23.
More important recent Celgene Corporation (NASDAQ:CELG) news were published by: Fool.com which released: “2 Reasons Celgene Corporation’s Future Just Got Brighter” on October 28, 2016, also Fool.com published article titled: “Why Celgene Corp Is a Better Buy Than Gilead Sciences”, Fool.com published: “Celgene Corporation Is Firing on All Cylinders” on October 28, 2016. More interesting news about Celgene Corporation (NASDAQ:CELG) was released by: Nasdaq.com and their article: “Celgene Corporation Reveals 25% Rise In Q3 Bottom Line” with publication date: October 27, 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.