What Analysts Recommend for Celgene and Peers in November



Stock price movements

On November 23, Celgene (CELG) closed at $66.65, which is 1.32% lower than its previous closing price. The stock has fallen 11.85% from $75.61 on November 1 to $66.65 on November 23. In the third quarter, Celgene reported revenues of $3.89 billion, a YoY rise of 18.2%. The company managed to surpass the consensus revenue estimate by $40 million.

According to Celgene’s third-quarter earnings conference call, a rise in sales volumes resulted in 14.7% YoY revenue growth, while drug price hikes led to 4.5% YoY revenue growth for the company. This performance was partly offset by 0.5% due to foreign currency fluctuations, thereby resulting in 18.5% YoY growth in net product sales for Celgene in the third quarter. Based on its closing price on November 23, the company witnessed returns of -4.76% in the last week, -10.79% in the last month, and -25.89% in the last quarter. The stock witnessed returns of -15.24% in the last half year, -36.62% in the last year, and -36.13% YTD.

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Analysts’ recommendations and target price for Celgene

The 12-month consensus analyst recommendation for Celgene on November 23 is a “buy.” The 12-month consensus target price for the company is $108.23, which is 62.39% higher than its last closing price on November 23. The highest target price estimate for the company is $163, and the lowest target price estimate is $79.

Out of the 27 analysts covering Celgene on November 23, eight analysts have rated the company as a “strong buy,” and nine analysts have rated the company as a “buy.” Nine analysts have rated the company as a “hold,” and only one analyst has rated the company as a “sell.”

In the next article, we’ll discuss revenue projections for Celgene for fiscal 2018.


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