Cantor Fitzgerald Keeps a Buy Rating on Celgene (CELG)

By Ryan Adsit

Cantor Fitzgerald analyst Alethia Young reiterated a Buy rating on Celgene (CELGResearch Report) yesterday and set a price target of $100. The company’s shares closed yesterday at $83.12.

Young wrote:

“: Reiterate Overweight rating and $100 price target. Celgene closed down -9% today (vs. NBI -1%) after Bristol’s (BMY, NC) second largest shareholder Wellington (8%) issued a press release opposing the acquisition. Recent reports of activist Starboard taking a stake in BMY had introduced nervousness, but Wellington emerging as a vocal opponent greatly increases our uncertainty that the deal will close. We think that Celgene has been trading with some consideration that the deal does not close, so if investor confidence increases at this level there is upside.”

According to, Young is a 4-star analyst with an average return of 5.9% and a 48.8% success rate. Young covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Vertex Pharmaceuticals, and Sarepta Therapeutics.

Currently, the analyst consensus on Celgene is a Moderate Buy with an average price target of $94.15, which is a 13.3% upside from current levels. In a report released yesterday, Robert W. Baird also maintained a Buy rating on the stock with a $101 price target.

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Celgene’s market cap is currently $58.2B and has a P/E ratio of 15.02. The company has a Price to Book ratio of 9.45.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CELG in relation to earlier this year. Most recently, in December 2018, Ernest Mario, a Director at CELG bought 8,600 shares for a total of $507,830.

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Celgene Corp. is an integrated global biopharmaceutical company, which engages in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases. Its targeting areas include intracellular signaling pathways, protein homeostasis and epigenetics in cancer and immune cells, immunomodulation in cancer and autoimmune diseases and therapeutic application of cell therapies. The company’s products include Revlimid, Vidaza, Thalomid, Pomalyst/Imnovid, Abraxane, and Istodax. Celgene was founded by David Stirling and Sol Barer in 1986 and is headquartered in Summit, NJ.