Brokerages expect Celgene Corporation (NASDAQ:CELG) to report earnings of $1.88 per share for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have issued estimates for Celgene Corporation’s earnings, with estimates ranging from $1.83 to $1.98. Celgene Corporation reported earnings per share of $1.58 during the same quarter last year, which would indicate a positive year over year growth rate of 19%. The firm is expected to issue its next earnings results before the market opens on Thursday, October 26th.
On average, analysts expect that Celgene Corporation will report full year earnings of $7.34 per share for the current fiscal year, with EPS estimates ranging from $7.25 to $7.47. For the next fiscal year, analysts anticipate that the business will report earnings of $9.02 per share, with EPS estimates ranging from $8.55 to $9.46. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Celgene Corporation.
Celgene Corporation (NASDAQ:CELG) last released its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.21. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The firm had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same period in the previous year, the company earned $1.44 EPS. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year.
Several research analysts have weighed in on the stock. BTIG Research lowered shares of Celgene Corporation from a “buy” rating to a “neutral” rating and increased their target price for the stock from $96.93 to $131.70 in a research note on Friday, June 30th. Leerink Swann reaffirmed an “outperform” rating and set a $160.00 target price (up previously from $150.00) on shares of Celgene Corporation in a research note on Friday, July 28th. Argus raised shares of Celgene Corporation from a “hold” rating to a “buy” rating and increased their target price for the stock from $96.93 to $160.00 in a research note on Monday, July 31st. Credit Suisse Group set a $148.00 target price on shares of Celgene Corporation and gave the stock a “buy” rating in a research note on Thursday, July 6th. Finally, Stifel Nicolaus assumed coverage on shares of Celgene Corporation in a research note on Friday, July 28th. They set a “buy” rating and a $155.00 target price for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. Celgene Corporation currently has a consensus rating of “Buy” and an average target price of $151.53.
In other Celgene Corporation news, Director Gilla Kaplan sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $134.52, for a total value of $1,008,900.00. Following the sale, the director now owns 76,301 shares in the company, valued at $10,264,010.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ernest Mario sold 18,506 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $130.52, for a total value of $2,415,403.12. Following the completion of the sale, the director now owns 69,424 shares in the company, valued at approximately $9,061,220.48. The disclosure for this sale can be found here. Insiders sold 46,233 shares of company stock worth $6,268,259 in the last 90 days. Corporate insiders own 0.95% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in CELG. Janus Henderson Group PLC raised its stake in Celgene Corporation by 4,290.5% in the second quarter. Janus Henderson Group PLC now owns 8,408,961 shares of the biopharmaceutical company’s stock valued at $1,092,071,000 after buying an additional 8,217,433 shares during the period. BlackRock Inc. raised its stake in Celgene Corporation by 5.7% in the second quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock valued at $7,366,919,000 after buying an additional 3,084,227 shares during the period. Oaktop Capital Management II L.P. bought a new stake in Celgene Corporation in the second quarter valued at approximately $271,605,000. Arrowstreet Capital Limited Partnership raised its stake in Celgene Corporation by 1,489.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,907,052 shares of the biopharmaceutical company’s stock valued at $247,669,000 after buying an additional 1,787,052 shares during the period. Finally, Vanguard Group Inc. raised its stake in Celgene Corporation by 3.1% in the second quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock valued at $6,951,579,000 after buying an additional 1,610,056 shares during the period. Hedge funds and other institutional investors own 79.24% of the company’s stock.
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Celgene Corporation (NASDAQ:CELG) traded up 1.57% during trading on Tuesday, hitting $138.86. 4,306,128 shares of the company were exchanged. The company has a market capitalization of $108.64 billion, a price-to-earnings ratio of 43.00 and a beta of 1.89. Celgene Corporation has a 12 month low of $96.93 and a 12 month high of $147.17. The stock’s 50-day moving average is $141.03 and its 200-day moving average is $130.15.
Celgene Corporation Company Profile
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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