Celgene Corporation (CELG) : Analyst Rating Update

Celgene Corporation (CELG) : 17 analysts are covering Celgene Corporation (CELG) and their average rating on the stock is 1.41, which is read as a Strong Buy. 13 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Celgene Corporation (CELG) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 3 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Celgene Corporation (CELG) : 14 investment research analysts covering Celgene Corporation (CELG) have an average price target of $142.5 for the near short term. The highest target price given by the Brokerage Firm to the stock is $162 and the lowest target is $120 for the short term. Analysts expect the variance to be within $13.97 of the average price.

Celgene Corporation (NASDAQ:CELG): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $100.25 and $100.13 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $104.94. The buying momentum continued till the end and the stock did not give up its gains. It closed at $104.60, notching a gain of 4.34% for the day. The total traded volume was 7,347,983 . The stock had closed at $100.25 on the previous day.

Also, Equity Analysts at the BTIG Research downgrades the rating on Celgene Corporation (NASDAQ:CELG). The brokerage firm has issued a Neutral rating on the shares. The shares were previously rated Buy. The rating by the firm was issued on June 1, 2016. The company shares have dropped -13.51% from its 1 Year high price. On Jul 23, 2015, the shares registered one year high at $140.72 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $102.00 and the 200 Day Moving Average price is recorded at $104.07.

Celgene Corporation (Celgene), together with its subsidiaries, is an integrated biopharmaceutical company engaged primarily in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through gene and protein regulation. The Companys 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). Celgene is involved in research in a range of scientific areas designed to deliver therapies, targeting areas, including intracellular signaling pathways, protein homeostasis and epigenetics in cancer and immune cells, immunomodulation in cancer and autoimmune diseases, and therapeutic application of cell therapies.

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