A number of stock research firms have changed their ratings and price targets for Celgene (NASDAQ: CELG) during the last seven days:
- Celgene had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $130.00 price target on the stock.
- Celgene had its “outperform” rating reaffirmed by analysts at RBC Capital. They now have a $115.00 price target on the stock.
- Celgene had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $106.00 price target on the stock. Zacks‘ analyst wrote, “Celgene’s fourth quarter 2012 adjusted earnings of $1.18 per share beat the year-ago earnings by 26.9%. Higher revenues drove earnings in the reported quarter. Total revenue climbed 12.7% to $1.45 billion in the fourth quarter of 2012. Revenues were boosted by the impressive performance of Celgene’s cancer drugs Revlimid, Abraxane and Vidaza. Celgene expects 2013 adjusted earnings in the range of $5.50-$5.60 per share. Even though pleased with the overall oncology portfolio at Celgene, we remain concerned about the decline in the sales of cancer drug, Thalomid. We are also concerned about the loss of exclusivity of Vidaza in the US. In view of these challenges, we see limited upside potential from current levels and retain our Neutral stance on the stock.”
- Celgene had its price target raised by analysts at Cantor Fitzgerald from $115.00 to $121.00. They now have a “buy” rating on the stock.
- Celgene had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $113.00 price target on the stock.
Celgene opened at 110.03 on Thursday. Celgene has a 52-week low of $58.53 and a 52-week high of $110.80. The stock’s 50-day moving average is currently $100.4. The company has a market cap of $46.074 billion and a price-to-earnings ratio of 33.34.
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.
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