Morgan Stanley Downgrades Celgene Corporation (CELG) to Underweight

Leslie Hanson
October 17, 2017

The company has market cap of 38.17 billion Euro. The stock rose 0.58% or $0.79 reaching $137.5 per share. During the same quarter in the prior year, the business earned $1.32 earnings per share. Celgene Corporation (NASDAQ:CELG) has risen 17.00% since October 15, 2016 and is uptrending.

Robert Henry Lynch increased its stake in Entercom Communications Corp (ETM) by 66.67% based on its latest 2017Q2 regulatory filing with the SEC. Iowa State Bank bought 2,962 shares as the company's stock declined 3.45% while stock markets rallied. The Private Wealth Partners Llc holds 111,875 shares with $14.53 million value, up from 108,726 last quarter. Investors of record on Friday, September 22nd were paid a dividend of $0.06 per share. Eqis Capital Management Inc. now owns 40,165 shares of the biopharmaceutical company's stock valued at $5,857,000 after purchasing an additional 5,685 shares during the last quarter. It has underperformed by 16.70% the S&P500.

The total value of its holdings increased 102,395.1%. The biopharmaceutical company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.61 by $0.21. 602.51 million shares or 1.81% more from 591.78 million shares in 2017Q1 were reported. Employees Retirement System Of Texas invested in 262,200 shares or 0.46% of the stock. This technical setup was reported by Barchart.com.

Alerus Financial NA reduced its position in shares of Celgene Co. S&Co invested in 0.21% or 12,365 shares. Martingale Asset Mngmt Limited Partnership holds 0.03% or 16,478 shares. Also, insider Terrie Curran sold 1,727 shares of the company's stock in a transaction on Monday, September 25th. The insider VESSEY RUPERT sold $575,038. Parsons Cap Mgmt Ri holds 49,195 shares.

Celgene Corporation (NASDAQ:CELG) gross margin percentage stands at 96.3% while its operating margin for the past trailing twelve month is 27.6 percent and its overall profit margin (ttm) is 21.3 Percent. 2,593K shares changed hands by the end of trading on Friday. Veritable LP reported 50,885 shares or 0.15% of all its holdings. The correct version of this story can be accessed at https://www.dispatchtribunal.com/2017/10/16/morgan-stanley-downgrades-celgene-corporation-celg-to-underweight.html.

Since June 15, 2017, it had 0 insider buys, and 3 sales for $2.36 million activity. Middleton And Inc Ma holds 0.05% or 1,743 shares. 5,000 shares valued at $625,000 were sold by Friedman Michael A on Saturday, June 17.


Celgene Corporation (NASDAQ:CELG) received a Buy rating from 6 analysts. Therefore 85% are positive. According to today's trading volume Celgene Corporation is ABOVE its 20-Day Avg. volume with the stock showing ABOVE Abnormal volume in the past 150 days. The firm has "Buy" rating by Oppenheimer given on Thursday, July 6. Moreover, Los Angeles Management And Equity Rech Inc has 0.11% invested in Celgene Corporation (NASDAQ:CELG). Piedmont Invest Advsr Lc has invested 0.48% of its portfolio in Celgene Corporation (NASDAQ:CELG). The company presently has an average rating of Buy and an average target price of $150.80. The firm has "Market Perform" rating given on Friday, June 10 by Bernstein. The company was downgraded on Friday, May 5 by Argus Research. Suntrust Robinson has "Buy" rating and $147 target. The rating was maintained by BNP Paribas with "Neutral" on Tuesday, December 15. Canaccord Genuity maintained Celgene Corporation (NASDAQ:CELG) on Thursday, July 27 with "Buy" rating. Analysts are forecasting earnings of $1.88 on a per share basis this quarter. The biopharmaceutical company reported $1.82 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $1.61 by $0.21. State Street Corp grew its position in Celgene Corporation by 2.3% in the 1st quarter.

More notable recent Celgene Corporation (NASDAQ:CELG) news were published by: Nj.com which released: "SAGE Eldercare receives donation from Celgene Corporation" on October 12, 2017, also Seekingalpha.com with their article: "Celgene Presents Strong Potential Despite Clinical Hold Setback" published on September 28, 2017, Fool.com published: "Better Buy: Celgene Corporation vs. Merck & Co., Inc." on September 22, 2017. Citigroup Inc. owned approximately 0.10% of Luminex Corporation worth $948,000 at the end of the most recent quarter.

Investors sentiment increased to 1.34 in Q2 2017. Its down 0.26, from 1.41 in 2017Q1. It improved, as 65 investors sold CVX shares while 653 reduced holdings. 24 funds opened positions while 30 raised stakes. BlackRock Inc. now owns 5,063,064 shares of the medical instruments supplier's stock valued at $93,008,000 after acquiring an additional 5,053,447 shares during the period. Bnp Paribas Arbitrage accumulated 33,088 shares or 0% of the stock. Ferguson Wellman Cap Inc owns 52,414 shares or 0.09% of their U.S. portfolio. 8,074 were accumulated by Valley Natl Advisers.

Msd Capital L P holds 44.32% of its portfolio in Asbury Automotive Group, Inc. for 2.00 million shares. Lsv Asset Mngmt holds 0% or 13,100 shares in its portfolio.

Boyd Watterson Asset Management Llc decreased its stake in Bb&T Corporation (BBT) by 63.59% based on its latest 2017Q2 regulatory filing with the SEC. Adams Natural Res Fund holds 596,800 shares or 10.22% of its portfolio. Phocas Fincl reported 0.59% of its portfolio in Entercom Communications Corp. It is down 0.00% since October 16, 2016 and is.

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