Celgene Receives a Hold from Cantor Fitzgerald

By Austin Angelo

Cantor Fitzgerald analyst Mara Goldstein maintained a Hold rating on Celgene (NASDAQ: CELG) today and set a price target of $112. The company’s shares opened today at $104.27.

Goldstein noted:

“CELG will record a pretax charge of approximately $411 million in 4Q17 in relation to the wind-down of the GED-0301 program, announced in October 2017.”

According to TipRanks.com, Goldstein is a 1-star analyst with an average return of -1.2% and a 37.4% success rate. Goldstein covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Corvus Pharmaceuticals Inc, and Karyopharm Therapeutics.

Currently, the analyst consensus on Celgene is Moderate Buy and the average price target is $125.14, representing a 20.0% upside.

In a report issued on December 27, Bernstein also downgraded the stock to Hold with a $121 price target.

The company has a one-year high of $147.17 and a one-year low of $94.55. Currently, Celgene has an average volume of 7.83M.

Based on the recent corporate insider activity of 66 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. Earlier this month, Gilla Kaplan, a Director at CELG bought 9,250 shares for a total of $230,880.

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, 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.