Equities research analysts expect that Celgene Co. (NASDAQ:CELG) will post sales of $4.24 billion for the current quarter, according to Zacks. Six analysts have issued estimates for Celgene’s earnings, with the highest sales estimate coming in at $4.37 billion and the lowest estimate coming in at $4.18 billion. Celgene reported sales of $3.81 billion during the same quarter last year, which indicates a positive year over year growth rate of 11.3%. The firm is scheduled to announce its next quarterly earnings report on Thursday, July 25th.
According to Zacks, analysts expect that Celgene will report full-year sales of $17.12 billion for the current financial year, with estimates ranging from $16.87 billion to $17.48 billion. For the next fiscal year, analysts expect that the firm will post sales of $19.23 billion, with estimates ranging from $18.37 billion to $20.29 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Celgene.
Celgene (NASDAQ:CELG) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.45 by $0.10. Celgene had a return on equity of 106.69% and a net margin of 30.10%. The business had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the business posted $2.05 earnings per share. Celgene’s revenue was up 13.8% compared to the same quarter last year.
CELG has been the subject of several research analyst reports. Cowen initiated coverage on Celgene in a research note on Tuesday, February 26th. They issued a “market perform” rating and a $102.00 price objective for the company. Mizuho set a $103.00 price objective on Celgene and gave the stock a “buy” rating in a research note on Friday, April 5th. William Blair downgraded Celgene from an “outperform” rating to a “market perform” rating in a research note on Monday, April 1st. ValuEngine raised Celgene from a “sell” rating to a “hold” rating in a research note on Saturday, March 30th. Finally, Cantor Fitzgerald downgraded Celgene from an “overweight” rating to a “neutral” rating and set a $94.00 price objective for the company. in a research note on Friday, April 5th. Eighteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $95.56.
Shares of NASDAQ CELG traded up $0.59 during mid-day trading on Friday, hitting $96.56. 3,827,917 shares of the company traded hands, compared to its average volume of 9,446,790. Celgene has a 1 year low of $58.59 and a 1 year high of $97.07. The company has a market cap of $67.68 billion, a price-to-earnings ratio of 12.69, a P/E/G ratio of 0.44 and a beta of 1.56. The company has a quick ratio of 2.66, a current ratio of 2.78 and a debt-to-equity ratio of 2.42.
Institutional investors and hedge funds have recently bought and sold shares of the company. Private Advisors LLC acquired a new position in shares of Celgene during the 1st quarter valued at about $928,000. Marshall Wace North America L.P. increased its holdings in shares of Celgene by 117.0% during the 1st quarter. Marshall Wace North America L.P. now owns 81,936 shares of the biopharmaceutical company’s stock valued at $7,729,000 after acquiring an additional 44,184 shares during the last quarter. Muhlenkamp & Co. Inc. acquired a new position in shares of Celgene during the 1st quarter valued at about $6,682,000. Accident Compensation Corp increased its holdings in shares of Celgene by 5.4% during the 1st quarter. Accident Compensation Corp now owns 27,377 shares of the biopharmaceutical company’s stock valued at $2,583,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Allstate Corp increased its holdings in shares of Celgene by 264.0% during the 1st quarter. Allstate Corp now owns 46,770 shares of the biopharmaceutical company’s stock valued at $4,412,000 after acquiring an additional 33,922 shares during the last quarter. 75.19% of the stock is owned by institutional investors.
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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