Wall Street analysts expect Celgene Co. (NASDAQ:CELG) to report sales of $3.50 billion for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Celgene’s earnings. The highest sales estimate is $3.70 billion and the lowest is $3.45 billion. Celgene posted sales of $2.96 billion during the same quarter last year, which would indicate a positive year over year growth rate of 18.2%. The firm is expected to announce its next earnings report on Thursday, April 26th.
According to Zacks, analysts expect that Celgene will report full year sales of $3.50 billion for the current year, with estimates ranging from $14.60 billion to $15.11 billion. For the next financial year, analysts forecast that the business will report sales of $17.08 billion per share, with estimates ranging from $16.03 billion to $17.87 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Celgene.
Celgene (NASDAQ:CELG) last issued its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.09. Celgene had a net margin of 22.38% and a return on equity of 67.50%. The firm had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter last year, the company posted $1.61 earnings per share. The firm’s revenue was up 16.9% compared to the same quarter last year.
In other Celgene news, insider Mark J. Alles purchased 3,260 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were purchased at an average cost of $91.90 per share, with a total value of $299,594.00. Following the completion of the purchase, the insider now owns 178,904 shares in the company, valued at approximately $16,441,277.60. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gilla Kaplan sold 9,250 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $94.83, for a total transaction of $877,177.50. Following the completion of the transaction, the director now directly owns 94,801 shares in the company, valued at $8,989,978.83. The disclosure for this sale can be found here. Company insiders own 0.95% of the company’s stock.
Large investors have recently bought and sold shares of the company. Janus Henderson Group PLC raised its stake in Celgene by 4,290.5% during the second quarter. Janus Henderson Group PLC now owns 8,408,961 shares of the biopharmaceutical company’s stock worth $1,092,071,000 after purchasing an additional 8,217,433 shares during the period. BlackRock Inc. raised its stake in Celgene by 5.7% during the second quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock worth $7,366,919,000 after purchasing an additional 3,084,227 shares during the period. Two Sigma Advisers LP raised its stake in Celgene by 361.3% during the fourth quarter. Two Sigma Advisers LP now owns 3,134,127 shares of the biopharmaceutical company’s stock worth $327,077,000 after purchasing an additional 2,454,703 shares during the period. Oaktop Capital Management II L.P. purchased a new position in Celgene during the second quarter worth about $271,605,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in Celgene by 1,489.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,907,052 shares of the biopharmaceutical company’s stock worth $247,669,000 after purchasing an additional 1,787,052 shares during the period. 77.84% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Celgene (NASDAQ CELG) opened at $93.85 on Wednesday. The company has a market cap of $70,590.00, a price-to-earnings ratio of 17.88, a P/E/G ratio of 0.67 and a beta of 1.49. The company has a current ratio of 4.99, a quick ratio of 4.80 and a debt-to-equity ratio of 2.29. Celgene has a 52-week low of $88.32 and a 52-week high of $147.17.
Celgene declared that its board has authorized a stock buyback program on Wednesday, February 14th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the biopharmaceutical company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
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Celgene Corporation is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is engaged in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.
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