Celgene Co. (NASDAQ:CELG) Expected to Post Earnings of $2.73 Per Share

Equities analysts expect that Celgene Co. (NASDAQ:CELG) will post earnings per share of $2.73 for the current quarter, according to Zacks. Four analysts have made estimates for Celgene’s earnings. The highest EPS estimate is $2.93 and the lowest is $2.65. Celgene reported earnings per share of $2.29 during the same quarter last year, which would indicate a positive year over year growth rate of 19.2%. The business is expected to announce its next quarterly earnings results on Thursday, October 24th.

According to Zacks, analysts expect that Celgene will report full year earnings of $10.91 per share for the current financial year, with EPS estimates ranging from $10.67 to $11.37. For the next financial year, analysts expect that the firm will post earnings of $11.83 per share, with EPS estimates ranging from $9.50 to $13.09. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Celgene.

Celgene (NASDAQ:CELG) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.17. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.22 billion. Celgene had a return on equity of 89.93% and a net margin of 32.24%. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.16 earnings per share.

Several research firms recently weighed in on CELG. Cowen restated a “hold” rating and issued a $102.00 price objective on shares of Celgene in a report on Tuesday, July 30th. Zacks Investment Research upgraded Celgene from a “sell” rating to a “hold” rating and set a $94.00 price objective for the company in a report on Tuesday, July 23rd. BidaskClub upgraded Celgene from a “hold” rating to a “buy” rating in a report on Tuesday. ValuEngine downgraded Celgene from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Finally, Mizuho downgraded shares of Celgene from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $103.00 to $100.00 in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $94.60.

Shares of CELG stock traded up $0.80 on Friday, hitting $98.42. The stock had a trading volume of 2,180,187 shares, compared to its average volume of 7,135,742. The company has a quick ratio of 3.32, a current ratio of 3.44 and a debt-to-equity ratio of 1.97. The business has a 50 day moving average price of $97.22 and a 200 day moving average price of $94.64. The company has a market cap of $70.38 billion, a PE ratio of 12.93, a P/E/G ratio of 0.50 and a beta of 1.42. Celgene has a one year low of $58.59 and a one year high of $100.19.

In other Celgene news, insider Terrie Curran sold 11,338 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $98.27, for a total value of $1,114,185.26. Following the completion of the transaction, the insider now directly owns 13,493 shares in the company, valued at $1,325,957.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.39% of the company’s stock.

Several hedge funds have recently modified their holdings of CELG. Vanguard Group Inc. boosted its position in Celgene by 1.7% in the second quarter. Vanguard Group Inc. now owns 54,115,735 shares of the biopharmaceutical company’s stock valued at $5,002,460,000 after buying an additional 929,823 shares during the last quarter. FMR LLC boosted its position in Celgene by 89.3% in the first quarter. FMR LLC now owns 16,656,629 shares of the biopharmaceutical company’s stock valued at $1,571,387,000 after buying an additional 7,856,422 shares during the last quarter. Northern Trust Corp boosted its position in Celgene by 0.8% in the second quarter. Northern Trust Corp now owns 9,093,790 shares of the biopharmaceutical company’s stock valued at $840,630,000 after buying an additional 69,542 shares during the last quarter. Renaissance Technologies LLC boosted its position in Celgene by 85.7% in the second quarter. Renaissance Technologies LLC now owns 8,935,785 shares of the biopharmaceutical company’s stock valued at $826,024,000 after buying an additional 4,122,685 shares during the last quarter. Finally, Abrams Capital Management L.P. purchased a new stake in Celgene in the first quarter valued at approximately $637,066,000. Institutional investors and hedge funds own 72.41% of the company’s stock.

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 and Estimates for Celgene (NASDAQ:CELG)

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