Celgene Corp. (NASDAQ:CELG)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Friday, AnalystRatingsNetwork.com reports. They currently have a $148.00 target price on the stock. Zacks‘ price target would indicate a potential upside of 5.23% from the company’s current price.
Zacks‘ analyst wrote, “Celgene’s second quarter 2013 adjusted earnings of $1.36 per share beat the year-ago earnings by 24%. Higher revenues (up 15% to $1.60 billion) drove earnings in the reported quarter. Revenues were boosted by the impressive performance of Celgene’s cancer drugs Revlimid, Abraxane, Pomalyst and Vidaza. Celgene now expects 2013 adjusted earnings in the range of $5.80-$5.90 per share. Though impressed with the overall oncology portfolio at Celgene, we remain concerned about the decline in the sales of the cancer drug, Thalomid. We are also concerned about the loss of exclusivity of Vidaza in the U.S. In view of these challenges, we see limited upside potential from current levels and retain our Neutral stance on the stock.”
CELG has been the subject of a number of other recent research reports. Analysts at Barclays Capital raised their price target on shares of Celgene Corp. from $132.00 to $158.00 in a research note to investors on Friday. They now have an “overweight” rating on the stock. Separately, analysts at Cantor Fitzgerald reiterated a “buy” rating on shares of Celgene Corp. in a research note to investors on Friday. They now have a $156.00 price target on the stock. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Celgene Corp. in a research note to investors on Wednesday.
Six equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $136.22.
Celgene Corp. (NASDAQ: CELG) traded up 2.25% on Friday, hitting $143.81. Celgene Corp. has a 1-year low of $66.87 and a 1-year high of $140.79. The stock’s 50-day moving average is currently $124.0. The company has a market cap of $59.986 billion and a price-to-earnings ratio of 42.79.
Celgene Corp. (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.52 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.44 by $0.08. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the company posted $1.22 earnings per share. Celgene Corp.’s revenue was up 17.0% compared to the same quarter last year. Analysts expect that Celgene Corp. will post $5.77 EPS 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.
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