Celgene Corporation (CELG) Traders Should Start Listening to Analysts

Celgene Corporation (CELG) shares saw a recent bid of $121.04 and 4.72M shares have exchanged hands in the recent trading session, yielding a 2.95% gain over the past week. The stock price increased 1.19% or $-1.42 versus $119.62 at the end of the prior session. This change led market cap to move at $94.92B, putting the price -5.17% below the 52-week high and 28.19% above the 52-week low. The company’s stock has a normal trading capacity of 3.44M shares while the relative volume is 1.37.

To stay one step ahead we extended our research by comparing different price targets. The stock notched a 12-month high of $142.54 while $162.00 target is by far the most aggressive out of analysts who are currently evaluating the company, $19.46 higher than the next highest 52-week price estimate. The lowest 12-month price target for the shares is $93.00, which would be decrease of about -23% of its current value. The mean target of $145.50 should be compared with the price when the stock was languishing around $94.42 a share. And it remains to be seen which target price CELG can achieve without sacrificing much as the company is holding a 19.81% gain for the past twelve months.

By historical standards, Celgene Corporation remains a cheap stock. The company’s current price-earnings ratio amounts to 45.06 times earnings, below the average P/E ratio of 220.62 times earnings. For now, Celgene Corporation is the toast of Wall Street as its ABR stands at 1.90 with 12 out of 28 analysts rating the stock a buy. Over the short term, some market observers may have noticed that Celgene Corporation has a 1.22% short float with 15 days to cover. It becomes significant when you consider how many shares are shorted versus the average daily volume, means how many days to cover those short shares at that volume. Celgene Corporation has far performed well this year, with the share price up 4.57% since January. Over the past 2 quarters, the stock is up 6.91%, compared with a fall of nearly -4.60% for 3 months and about 1.68% for the past 30 days.

Last time, the company shocked Wall Street by reporting EPS of $1.68, smashing the consensus of $1.63 per share. Revenue for the quarter also did not kill consensus, coming in at $2.96B, compared to the consensus of 3.04B. Nonetheless, from here on out, earnings per share forecasts for the current quarter are $1.78. The company is expected to report EPS as high as $1.89 and as low as $1.70 per share. Similarly, full-year EPS forecasts have ranged between $7.12 and $7.73. The mean EPS estimate is $7.29. On the other side, sales forecasts for the current quarter are $3.24B. The stock is expected to report revenue as high as $3.35B and as low as $3.15B per share. Similarly, full-year sales forecasts have ranged between $12.93B and $13.58B. The mean revenue estimate is $13.2B.

Over the last 5 years, Celgene Corporation has averaged a 11.80% YoY EPS growth rate and a 18.30% revenue growth rate. Analysts are expecting EPS growth rates to be at 28.10% this quarter and EPS estimate for next year reflect 20.99% growth rate.

Sell-side analysts also have something to say about this company. Mizuho analysts stated on 01/06/2017 that they maintained their Buy rating. Argus had a markedly different take on 05/05/2017, proposing that Celgene Corporation is now considered Hold versus prior Buy rating. UBS analysts stated on 09/03/2017 that they launched coverage on this stock with Buy rating. Standpoint Research had a markedly different take on 09/11/2016, proposing that Celgene Corporation is now considered Hold versus prior Buy rating.

Celgene Corporation (CELG) Traders Should Start Listening to Analysts was last modified: June 15th, 2017 by Rosemary Becker
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