Mizuho Securities Believes Celgene (NASDAQ: CELG) Still Has Room to Grow

By Jason Carr

Mizuho Securities analyst Salim Syed reiterated a Buy rating on Celgene (CELGResearch Report) yesterday and set a price target of $103. The company’s shares closed yesterday at $93.47, close to its 52-week high of $98.97.

According to TipRanks.com, Syed is a 1-star analyst with an average return of -3.0% and a 47.1% success rate. Syed covers the Healthcare sector, focusing on stocks such as Unity Biotechnology Inc, Atara Biotherapeutics, and Neon Therapeutics Inc.

The word on The Street in general, suggests a Hold analyst consensus rating for Celgene with a $101.83 average price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $98.97 and a one-year low of $58.59. Currently, Celgene has an average volume of 6.72M.

Based on the recent corporate insider activity of 28 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, Michael D. Casey, a Director at CELG bought 24,666 shares for a total of $554,245.

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 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.