Celgene Corporation (NASDAQ:CELG) Shareholders Are Liking The News That Wells Fargo Has Reiterated Their “Outperform” Rating on the Stock


Celgene Corporation (NASDAQ:CELG) Rating Reaffirmed

Celgene Corporation (NASDAQ:CELG) has had their stock rating restated as a solid “Outperform” by expert analysts at Wells Fargo. This was disclosed in analysts note on Friday morning.

From a total of 15 analysts covering Celgene Corporation (NASDAQ:CELG) stock, 15 rate it a ”Buy”, 1 a “Sell”, and 2 a ”Hold”. This means that 83% of the ratings are positive. The highest target price is $163 while the lowest target price is $97. The mean of all analyst targets is $145 with a 40.57% above today’s ($106.55) stock price. Celgene Corporation was the topic of 14 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Canaccord Genuity maintained shares on November 6 with “Buy” rating. JMP Securities maintained shares with “Mkt Outperform” rating and $147 target share price in a report from a July 24. JP Morgan upgraded CELG stock in a recent report from October 1 to “Overweight” rating. Cantor Fitzgerald maintained the rating on July 24. Cantor Fitzgerald has a “Buy” rating and a $163 price target on shares. Finally, Cowen & Co maintained the stock with “Outperform” rating in a report issued on an August 12.

The stock closed the day at $106.55 during the previous session. It is down 3.62% since May 1, 2015 and is downtrending. It has underperformed by 0.84% the S&P500.

Celgene Corporation , together with its subsidiaries, is an integrated biopharmaceutical firm engaged primarily in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through gene and protein regulation. The company has a market cap of $83.71 billion. The Company’s primary commercial stage products include REVLIMID (lenalidomide), ABRAXANE, POMALYST/IMNOVID, VIDAZA, azacitidine for injection (generic version of VIDAZA), THALOMID (sold as THALOMID or Thalidomide Celgene outside the United States), OTEZLA (apremilast) and ISTODAX (romidepsin). It has 53.66 P/E ratio.

According to Zacks Investment Research, “Celgene Corp. is an independent biopharmaceutical company engaged primarily in the discovery, development and commercialization of orally administered, small molecule drugs for the treatment of cancer and immunological diseases.” Get a free copy of the Zacks research report on Celgene Corporation (CELG).