Celgene (CELG) Gets a Buy Rating from Cantor Fitzgerald

By Austin Angelo

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 $88.46.

Young observed:

“. We reiterate our Overweight rating and $100 12-month price target. Celgene reported a strong 4Q this morning and issued full year 2019 guidance. 4Q revs of ~$4B beat us and consensus on the top line, while adj. EPS of $2.39 also came in above us and consensus at $2.33 and $2.32. Base business trends were surprisingly strong, and management reiterated timelines for all five late- stage pipeline products on track for approval by the end of 2020. We think the key takeaway from the call was that commercial and pipeline execution appear to be back on track with a clear line of sight to the Bristol (BMY, NC) deal closing in 3Q19. We think guidance for 2019 seems conservative.”

According to TipRanks.com, Young is a 4-star analyst with an average return of 4.8% and a 47.3% success rate. Young covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Sarepta Therapeutics, and Puma Biotechnology.

Celgene has an analyst consensus of Moderate Buy, with a price target consensus of $93.85, implying a 6.1% upside from current levels. In a report issued on January 18, Barclays also maintained a Buy rating on the stock with a $102 price target.

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The company has a one-year high of $101.21 and a one-year low of $58.59. Currently, Celgene has an average volume of 9.8M.

Based on the recent corporate insider activity of 41 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.