Celgene (CELG) Expected to Announce Earnings of $2.09 Per Share

Wall Street analysts expect Celgene (NASDAQ:CELG) to announce earnings of $2.09 per share for the current quarter, according to Zacks. Nine analysts have issued estimates for Celgene’s earnings. The lowest EPS estimate is $2.05 and the highest is $2.17. Celgene posted earnings per share of $1.82 during the same quarter last year, which indicates a positive year over year growth rate of 14.8%. The business is expected to issue its next earnings report on Thursday, July 26th.

On average, analysts expect that Celgene will report full-year earnings of $8.51 per share for the current year, with EPS estimates ranging from $8.36 to $8.84. For the next fiscal year, analysts expect that the business will report earnings of $10.23 per share, with EPS estimates ranging from $9.65 to $11.37. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Celgene.

Celgene (NASDAQ:CELG) last announced its earnings results on Friday, May 4th. The biopharmaceutical company reported $2.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.96 by $0.09. Celgene had a net margin of 20.73% and a return on equity of 72.92%. The business had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the previous year, the firm posted $1.68 earnings per share. Celgene’s revenue was up 19.4% compared to the same quarter last year.

A number of brokerages recently issued reports on CELG. Vetr raised shares of Celgene from a “buy” rating to a “strong-buy” rating and set a $116.84 target price on the stock in a research report on Thursday, January 25th. BTIG Research reiterated a “hold” rating on shares of Celgene in a research note on Tuesday, January 23rd. ValuEngine downgraded shares of Celgene from a “hold” rating to a “sell” rating in a research note on Thursday, April 12th. Zacks Investment Research upgraded shares of Celgene from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a research note on Tuesday, May 1st. Finally, Royal Bank of Canada reiterated a “top pick” rating on shares of Celgene in a research note on Tuesday, January 23rd. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $123.98.

Shares of Celgene opened at $79.98 on Tuesday, Marketbeat Ratings reports. Celgene has a 1 year low of $81.66 and a 1 year high of $83.37. The firm has a market cap of $58.97 billion, a P/E ratio of 11.69, a P/E/G ratio of 0.54 and a beta of 1.49. The company has a debt-to-equity ratio of 3.92, a quick ratio of 2.36 and a current ratio of 2.53.

Celgene declared that its board has initiated a share buyback plan on Wednesday, February 14th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the biopharmaceutical company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

In other Celgene news, CEO Mark J. Alles purchased 1,208 shares of the business’s stock in a transaction that occurred on Wednesday, May 9th. The stock was acquired at an average cost of $82.60 per share, with a total value of $99,780.80. Following the completion of the acquisition, the chief executive officer now directly owns 187,316 shares of the company’s stock, valued at approximately $15,472,301.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James J. Loughlin sold 9,250 shares of Celgene stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $92.01, for a total value of $851,092.50. The disclosure for this sale can be found here. Insiders sold 31,870 shares of company stock valued at $2,991,601 over the last ninety days. 0.95% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Two Sigma Advisers LP raised its holdings in Celgene by 361.3% during the 4th 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 last quarter. Old Mutual Global Investors UK Ltd. raised its holdings in Celgene by 4,047.3% during the 1st quarter. Old Mutual Global Investors UK Ltd. now owns 1,576,831 shares of the biopharmaceutical company’s stock worth $140,669,000 after purchasing an additional 1,538,810 shares during the last quarter. Natixis raised its holdings in Celgene by 245.6% during the 1st quarter. Natixis now owns 1,746,416 shares of the biopharmaceutical company’s stock worth $155,798,000 after purchasing an additional 1,241,120 shares during the last quarter. HealthCor Management L.P. raised its holdings in Celgene by 217.6% during the 4th quarter. HealthCor Management L.P. now owns 1,725,000 shares of the biopharmaceutical company’s stock worth $180,021,000 after purchasing an additional 1,181,820 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Celgene by 11.9% during the 3rd quarter. Janus Henderson Group PLC now owns 9,410,233 shares of the biopharmaceutical company’s stock worth $1,372,196,000 after purchasing an additional 1,001,272 shares during the last quarter. 80.60% of the stock is owned by institutional investors and hedge funds.

Celgene Company Profile

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.

Get a free copy of the Zacks research report on Celgene (CELG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Celgene (NASDAQ:CELG)

Receive News & Ratings for Celgene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celgene and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply