Jefferies Believes Celgene (NASDAQ: CELG) Won’t Stop Here

By Austin Angelo

Jefferies analyst Peter Welford reiterated a Buy rating on Celgene (NASDAQ: CELG) on September 14 and set a price target of $160. The company’s shares closed yesterday at $142.04, close to its 52-week high of $142.69.

According to TipRanks.com, Welford is a 5-star analyst with an average return of 30.3% and a 78.0% success rate. Welford covers the Healthcare sector, focusing on stocks such as Advanced Accelerator Applications, Karyopharm Therapeutics, and Varian Medical Systems.

Currently, the analyst consensus on Celgene is Strong Buy and the average price target is $156.46, representing a 10.2% upside.

In a report issued on September 7, Cantor Fitzgerald also maintained a Buy rating on the stock with a $162 price target.

Based on Celgene’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $3.19 billion and quarterly net profit of $1.06 billion. In comparison, last year the company earned revenue of $2.69 billion and had a net profit of $598 million.

Based on the recent corporate insider activity of 72 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Gilla Kaplan, a Director at CELG sold 9,250 shares for a total of $1,309,430.

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.