Celgene (NASDAQ:CELG) Issues Earnings Results

Celgene (NASDAQ:CELG) released its quarterly earnings data on Tuesday. The biopharmaceutical company reported $2.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.44 by $0.17, Morningstar.com reports. Celgene had a return on equity of 106.69% and a net margin of 30.10%. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter in the previous year, the company posted $2.16 EPS. The company’s revenue was up 15.4% compared to the same quarter last year.

Shares of NASDAQ CELG traded up $0.30 during trading hours on Friday, hitting $93.35. 922,811 shares of the company traded hands, compared to its average volume of 3,409,953. The company has a market capitalization of $65.31 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 0.44 and a beta of 1.45. The company has a quick ratio of 2.66, a current ratio of 2.78 and a debt-to-equity ratio of 2.42. The firm’s 50 day moving average is $93.46. Celgene has a 12 month low of $58.59 and a 12 month high of $98.97.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Archford Capital Strategies LLC grew its position in Celgene by 277.8% in the 1st quarter. Archford Capital Strategies LLC now owns 272 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 200 shares during the last quarter. Liberty Wealth Management LLC grew its position in Celgene by 212.8% in the 2nd quarter. Liberty Wealth Management LLC now owns 294 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 200 shares during the last quarter. Investors Research Corp bought a new position in Celgene in the 1st quarter valued at $28,000. Weaver Consulting Group bought a new position in Celgene in the 1st quarter valued at $29,000. Finally, Alera Investment Advisors LLC grew its position in Celgene by 109.9% in the 1st quarter. Alera Investment Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 167 shares during the last quarter. 74.84% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have issued reports on CELG. ValuEngine downgraded Celgene from a “sell” rating to a “strong sell” rating in a research note on Thursday. Cantor Fitzgerald downgraded Celgene from an “overweight” rating to a “neutral” rating and set a $94.00 price objective on the stock. in a research note on Friday, April 5th. Zacks Investment Research raised Celgene from a “sell” rating to a “hold” rating and set a $94.00 price objective on the stock in a research note on Tuesday, July 23rd. Mizuho reaffirmed a “buy” rating and issued a $103.00 price objective on shares of Celgene in a research note on Wednesday, July 3rd. Finally, Cowen reaffirmed a “hold” rating and issued a $102.00 price objective on shares of Celgene in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $94.81.

About Celgene

Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes 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 to treat breast, non-small cell lung, pancreatic, and gastric cancers.

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Earnings History for Celgene (NASDAQ:CELG)

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