Celgene (CELG) Gets a Hold Rating from Mizuho Securities

By Austin Angelo

Mizuho Securities analyst Salim Syed maintained a Hold rating on Celgene (CELGResearch Report) yesterday and set a price target of $100.00. The company’s shares closed last Monday at $102.95, close to its 52-week high of $103.08.

According to TipRanks.com, Syed has 0 stars on 0-5 star ranking scale with an average return of -5.7% and a 43.4% success rate. Syed covers the Healthcare sector, focusing on stocks such as Unity Biotechnology Inc, Atara Biotherapeutics, and Neon Therapeutics Inc.

Celgene has an analyst consensus of Hold, with a price target consensus of $99.33.

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Based on Celgene’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $4.38 billion and net profit of $1.57 billion. In comparison, last year the company earned revenue of $3.88 billion and had a net profit of $1.08 billion.

Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CELG in relation to earlier this year.

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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 primary commercial stage products include REVLIMID, POMALYST, IMNOVID, OTEZLA, ABRAXANE, and VIDAZA. The company was founded by David Stirling and Sol Barer in 1986 and is headquartered in Summit, NJ.