J.P. Morgan Thinks Celgene’s Stock is Going to Recover

By Austin Angelo

In a report issued on October 8, Cory Kasimov from J.P. Morgan maintained a Buy rating on Celgene (NASDAQ: CELG). The company’s shares closed yesterday at $84.23, close to its 52-week low of $74.13.

According to TipRanks.com, Kasimov is a 3-star analyst with an average return of 2.1% and a 40.5% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Jounce Therapeutics Inc, and Acorda Therapeutics.

Celgene has an analyst consensus of Moderate Buy, with a price target consensus of $119.33, implying a 41.7% upside from current levels. In a report issued on September 28, Cantor Fitzgerald also initiated coverage with a Buy rating on the stock with a $100 price target.


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Celgene’s market cap is currently $59.18B and has a P/E ratio of 23.14. The company has a Price to Book ratio of 17.25.

Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is neutral on the stock.

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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.