Celgene Co. (CELG) Expected to Post Earnings of $2.31 Per Share

Brokerages expect that Celgene Co. (NASDAQ:CELG) will announce earnings of $2.31 per share for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Celgene’s earnings. The highest EPS estimate is $2.36 and the lowest is $2.26. Celgene posted earnings of $2.00 per share during the same quarter last year, which would indicate a positive year over year growth rate of 15.5%. The company is scheduled to issue its next quarterly earnings report on Thursday, January 24th.

On average, analysts expect that Celgene will report full year earnings of $8.80 per share for the current year, with EPS estimates ranging from $8.75 to $8.84. For the next year, analysts expect that the business will post earnings of $10.48 per share, with EPS estimates ranging from $9.93 to $11.21. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Celgene.

Celgene (NASDAQ:CELG) last issued its earnings results on Thursday, October 25th. The biopharmaceutical company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.27. Celgene had a net margin of 19.64% and a return on equity of 108.76%. The firm had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.83 billion.

Several analysts recently weighed in on CELG shares. Leerink Swann set a $112.00 price target on shares of Celgene and gave the company a “hold” rating in a report on Friday, October 26th. BidaskClub cut shares of Celgene from a “sell” rating to a “strong sell” rating in a report on Saturday, November 10th. Zacks Investment Research lowered Celgene from a “buy” rating to a “hold” rating in a research report on Wednesday, September 26th. Cann reissued a “buy” rating on shares of Celgene in a research report on Monday. Finally, UBS Group set a $94.00 price objective on Celgene and gave the company a “buy” rating in a research report on Saturday, October 27th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $116.99.

A number of institutional investors have recently added to or reduced their stakes in the business. Ayalon Holdings Ltd. purchased a new position in shares of Celgene in the second quarter worth about $100,000. Atlantic Trust LLC purchased a new position in shares of Celgene in the second quarter worth about $101,000. Moneta Group Investment Advisors LLC raised its stake in shares of Celgene by 2,688.6% in the second quarter. Moneta Group Investment Advisors LLC now owns 10,290 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 9,921 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Celgene in the third quarter worth about $132,000. Finally, City Holding Co. purchased a new position in shares of Celgene in the second quarter worth about $143,000. Institutional investors own 72.87% of the company’s stock.

Shares of Celgene stock opened at $73.42 on Tuesday. The company has a market capitalization of $50.50 billion, a PE ratio of 10.73, a PEG ratio of 0.45 and a beta of 1.50. Celgene has a 52-week low of $66.62 and a 52-week high of $110.81. The company has a current ratio of 2.13, a quick ratio of 1.99 and a debt-to-equity ratio of 4.06.

About Celgene

Celgene Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers.

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