Guggenheim Initiates Coverage on Celgene Corporation (CELG) Setting A Rating Of “Buy”

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Celgene Corporation (NASDAQ:CELG).

On October 17 BMO Capital maintained a company rating of “Outperform” but raised the price target from $160.00 to $167.00. October 20 investment analysts at UBS left the stock rating at “Equal-Weight” but lowered the price expectation to $135.00 from $142.00.

October 20 investment analysts at Barclays made no change to the company rating of “Equal-Weight” and lowered the price target to $135.00 from $140.00. On October 20 the company was set at “Neutral” in a report from Citigroup down from the previous “Buy” rating.

On October 23 analysts at PiperJaffray starting coverage on the stock giving it an initial rating of “Neutral” and setting a price target of $133.00.

The company is trading down since yesterday’s close of 122.37. Shares of the company are trading at $120.29 significantly lower than the 50 day moving average which is $140.31 and a tad under the 200 day moving average of $130.49. The 50 day moving average was down $-20.02 or -14.27% and the 200 day average went down $-10.20 or -7.81%.

Celgene Corporation, launched on April 17, 1986, is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is involved 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 Business’s commercial-stage products include REVLIMID (lenalidomide), POMALYST/IMNOVID (pomalidomide), OTEZLA (apremilast), ABRAXANE (paclitaxel albumin-bound particles for injectable suspension), VIDAZA, azacitidine for injection (generic version of VIDAZA) and THALOMID (thalidomide). Its clinical trial activity includes trials across the disease areas of hematology, solid tumors, and inflammation and immunology. The Company also markets ISTODAX, which is an epigenetic modifier..

The company’s P/E ratio is 37.25 and the market value is 94.11B. As of the last earnings report the EPS was $3.23 and is expected to be $7.32 for the current year with 782,350,000 shares now outstanding. Next quarter’s EPS is expected be $1.95 with next year’s EPS projected to be $8.89.

Traders are a little more bearish on shares of Celgene Corporation if you take into consideration the motion in short interest. The company had a rise in short interest of 1.04% between September 15, 2017 and September 29, 2017. Short shares grew 105,848 over that period. The short-interest ratio decreased to 3.0 and the short interest percentage is 0.01% as of September 29.

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