Celgene Co. (CELG) Expected to Announce Quarterly Sales of $3.95 Billion

Equities research analysts forecast that Celgene Co. (NASDAQ:CELG) will report sales of $3.95 billion for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for Celgene’s earnings, with the highest sales estimate coming in at $4.02 billion and the lowest estimate coming in at $3.89 billion. Celgene reported sales of $3.48 billion during the same quarter last year, which would suggest a positive year over year growth rate of 13.5%. The business is scheduled to report its next quarterly earnings results on Thursday, January 24th.

According to Zacks, analysts expect that Celgene will report full year sales of $15.17 billion for the current financial year, with estimates ranging from $15.09 billion to $15.26 billion. For the next year, analysts forecast that the firm will report sales of $16.94 billion, with estimates ranging from $16.44 billion to $17.27 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Celgene.

Celgene (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, October 25th. The biopharmaceutical company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.27. The company had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Celgene had a net margin of 19.81% and a return on equity of 87.28%.

A number of equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Celgene from a “sell” rating to a “strong-buy” rating and set a $102.00 price target on the stock in a research report on Wednesday, August 1st. Mizuho reissued a “buy” rating and set a $129.00 price target on shares of Celgene in a research report on Tuesday, July 31st. Cantor Fitzgerald assumed coverage on shares of Celgene in a research report on Monday, October 1st. They set an “overweight” rating and a $100.00 price target on the stock. BidaskClub raised shares of Celgene from a “hold” rating to a “buy” rating in a research report on Thursday, August 16th. Finally, Morgan Stanley lifted their price target on shares of Celgene from $91.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Friday, July 27th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $118.22.

In other Celgene news, Director Ernest Mario sold 12,000 shares of the business’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $92.32, for a total transaction of $1,107,840.00. Following the sale, the director now directly owns 44,413 shares of the company’s stock, valued at approximately $4,100,208.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John H. Weiland purchased 5,575 shares of the business’s stock in a transaction on Tuesday, August 7th. The shares were acquired at an average cost of $89.73 per share, for a total transaction of $500,244.75. The disclosure for this purchase can be found here. Insiders own 0.39% of the company’s stock.

A number of large investors have recently modified their holdings of CELG. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in Celgene during the 1st quarter worth about $767,000. Moors & Cabot Inc. lifted its position in Celgene by 34.9% during the 1st quarter. Moors & Cabot Inc. now owns 7,392 shares of the biopharmaceutical company’s stock worth $659,000 after buying an additional 1,914 shares in the last quarter. CIBC World Markets Inc. lifted its position in Celgene by 16.2% during the 1st quarter. CIBC World Markets Inc. now owns 160,349 shares of the biopharmaceutical company’s stock worth $14,305,000 after buying an additional 22,406 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in Celgene during the 1st quarter worth about $477,000. Finally, Handelsbanken Fonder AB lifted its position in Celgene by 0.8% during the 1st quarter. Handelsbanken Fonder AB now owns 477,449 shares of the biopharmaceutical company’s stock worth $42,593,000 after buying an additional 4,000 shares in the last quarter. 72.92% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ CELG traded down $0.27 during midday trading on Friday, reaching $72.45. 6,352,208 shares of the stock were exchanged, compared to its average volume of 6,459,182. The stock has a market cap of $56.70 billion, a price-to-earnings ratio of 10.59, a P/E/G ratio of 0.48 and a beta of 1.30. Celgene has a 12 month low of $71.14 and a 12 month high of $110.81. The company has a quick ratio of 1.40, a current ratio of 1.52 and a debt-to-equity ratio of 5.76.

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.

See Also: What are the reasons investors use put options?

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