Celgene Receives a Buy from J.P. Morgan

By Ryan Adsit

J.P. Morgan analyst Cory Kasimov reiterated a Buy rating on Celgene (NASDAQ: CELG) on May 22. The company’s shares closed yesterday at $117.31.

According to TipRanks.com, Kasimov is ranked 0 out of 5 stars with an average return of -5.0% and a 36.6% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals Inc, Global Blood Therapeutics, and Karyopharm Therapeutics.

Currently, the analyst consensus on Celgene is Strong Buy and the average price target is $149.30, representing a 27.3% upside.

In a report issued on May 12, Jefferies also reiterated a Buy rating on the stock with a $154 price target.

Celgene’s market cap is currently $91.62B and has a P/E ratio of 44.27. The company has a book value ratio of 11.9858.

Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is negative on the stock. Earlier this month, James Loughlin, a Director at CELG sold 9,250 shares for a total of $1,147,000.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Celgene Corp. is an integrated global biopharmaceutical company engaged primarily in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through gene and protein regulation. 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.