Celgene Corporation (CELG) has risen sharply, recording gains of 4.32% in the past 4 weeks. However, the stock has corrected -1.08% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 3.92% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Celgene Corporation is up 10.55% in the last 3-month period. Year-to-Date the stock performance stands at -6.35%. The stock has recorded a 20-day Moving Average of 0.25% and the 50-Day Moving Average is 6.09%.
Celgene Corporation (NASDAQ:CELG): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $111.83 and $111.60 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $112.93. The buying momentum continued till the end and the stock did not give up its gains. It closed at $112.16, notching a gain of 0.03% for the day. The total traded volume was 2,916,819 . The stock had closed at $112.13 on the previous day.
Also, BTIG Research upgrades their rating on the shares of Celgene Corporation (NASDAQ:CELG). The current rating of the shares is Buy. Earlier, the shares were rated a Neutral by the brokerage firm. The rating by the firm was issued on August 4, 2016.
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.