Celgene (CELG): New Buy Recommendation for This Healthcare Giant

By Jason Carr

Mizuho Securities analyst Salim Syed maintained a Buy rating on Celgene (CELGResearch Report) today and set a price target of $103. The company’s shares closed yesterday at $94.96, close to its 52-week high of $97.07.

According to TipRanks.com, Syed is a 1-star analyst with an average return of -3.9% and a 38.5% success rate. Syed covers the Healthcare sector, focusing on stocks such as Unity Biotechnology Inc, Atara Biotherapeutics, and Wave Life Sciences.

Currently, the analyst consensus on Celgene is a Moderate Buy with an average price target of $100.88.

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Celgene’s market cap is currently $66.93B and has a P/E ratio of 14.44. The company has a Price to Book ratio of 8.20.

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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.