Company shares are trading at $100.97 which is much lower than $134.67, the 50 day moving average and quite a bit below the 200 day moving average of $129.65. The 50 day moving average was down by -25.02% and the 200 day average went down $-28.68 or -22.12%. Trading volume for Celgene Corporation was 12,611K by the end of trading on Tuesday. Shares saw a steep increase in trading volume of 9.55% over the normal average daily volume.
Investors are feeling more bullish on the company lately as indicated by the motion in short interest. The firm had a fall in short interest of -0.78% as of October 13, 2017 from the last reporting period. Short interest fell from 10,239,042 to 10,159,327 over that period. Days to cover decreased -1.0 to 2.0 and the percentage of shorted shares was 0.01% on October 13.
A few notable investment firms have updated their holdings. Decatur Capital Management, Inc. expanded its stake by buying 4,675 shares an increase of 6.1% as of 09/30/2017. Decatur Capital Management, Inc. now holds 81,623 shares valued at $11,902,000. The value of the position overall is up by 19.1%. As of the end of the quarter Affinity Investment Advisors, LLC had bought 7,609 shares growing its stake by 9.4%. The value in dollars increased from $10,516,000 to $12,917,000 a change of 22.8% quarter over quarter.
Tokio Marine Asset Management Co Ltd reduced its investment by selling 3,008 shares a decrease of 3.1%. Tokio Marine Asset Management Co Ltd owns 94,855 shares with a value of $13,832,000. The total value of its holdings increased 8.8%. As of quarter end Artemis Investment Management LLP had acquired a total of 30,667 shares growing its holdings by 25.5%. The value of the company’s investment in Celgene Corporation went from $15,648,000 to $22,039,000 a change of $6,391,000 since the last quarter.
October 27 investment analysts at BMO Capital kept the stock rating at “Outperform” and moved down the price target to $148.00 from $167.00. Equity analyst JMP Securities lowered the price target and downgraded the stock on October 27 cutting the price target from $152.00 to $102.00 and moving the rating from “Market Outperform” to “Neutral”.
Cantor Fitzgerald downgraded the stock and lowered the price target on October 27 changing the price target from $146.00 to $102.00 and altering the rating from “Buy” to “Neutral”. On October 27 the stock rating was upgraded from “Underweight” to “Neutral” and a price target of $102.00 was set by analysts at Morgan Stanley.
On October 27 the company was downgraded to “Neutral” from “Market Outperform” with a current price target of $102.00 in a report issued by JMP Securities. On October 27 the stock rating was downgraded to “Neutral” from “Buy” with a current price target of $102.00 in a report from Cantor Fitzgerald.
Celgene Corporation’s P/E ratio is 31.27 and the market cap of the company is 78.99B. In the last earnings report the EPS was $3.23 and is estimated to be $7.33 for the current year with 782,350,000 shares presently outstanding. Next quarter’s EPS is estimated at $2.00 and the next full year EPS is anticipated to be $8.73.
Celgene Corporation, launched on April 17, 1986, is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is involved in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation. The Business’s commercial-stage products include REVLIMID (lenalidomide), POMALYST/IMNOVID (pomalidomide), OTEZLA (apremilast), ABRAXANE (paclitaxel albumin-bound particles for injectable suspension), VIDAZA, azacitidine for injection (generic version of VIDAZA) and THALOMID (thalidomide). Its clinical trial activity includes trials across the disease areas of hematology, solid tumors, and inflammation and immunology. The Company also markets ISTODAX, which is an epigenetic modifier..