Celgene (NASDAQ:CELG) Releases Earnings Results

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

Celgene stock traded up $0.21 during midday trading on Wednesday, hitting $92.82. 77,529 shares of the company’s stock were exchanged, compared to its average volume of 3,638,123. The company has a current ratio of 2.78, a quick ratio of 2.66 and a debt-to-equity ratio of 2.42. Celgene has a 12 month low of $58.59 and a 12 month high of $98.97. The business’s 50-day moving average price is $93.61. The firm has a market cap of $65.42 billion, a P/E ratio of 12.20, a PEG ratio of 0.44 and a beta of 1.45.

A number of research firms have weighed in on CELG. Cowen upped their price target on shares of AerCap from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Cantor Fitzgerald set a $11.00 price target on shares of TAIWAN LIPOSOME/S and gave the stock a “buy” rating in a report on Friday, April 5th. Barclays set a $24.00 price target on shares of Orion Engineered Carbons and gave the stock a “hold” rating in a report on Friday, May 3rd. Finally, Mizuho set a $148.00 price target on shares of Jazz Pharmaceuticals and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $94.81.

A number of institutional investors have recently modified their holdings of CELG. Berman Capital Advisors LLC boosted its holdings in shares of Celgene by 11.3% in the 2nd quarter. Berman Capital Advisors LLC now owns 1,096 shares of the biopharmaceutical company’s stock valued at $101,000 after buying an additional 111 shares in the last quarter. Altium Wealth Management LLC boosted its holdings in shares of Celgene by 1.3% in the 1st quarter. Altium Wealth Management LLC now owns 8,980 shares of the biopharmaceutical company’s stock valued at $847,000 after buying an additional 115 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Celgene by 10.0% in the 1st quarter. Global Retirement Partners LLC now owns 1,269 shares of the biopharmaceutical company’s stock valued at $120,000 after buying an additional 115 shares in the last quarter. MBM Wealth Consultants LLC boosted its holdings in shares of Celgene by 2.8% in the 2nd quarter. MBM Wealth Consultants LLC now owns 4,264 shares of the biopharmaceutical company’s stock valued at $397,000 after buying an additional 116 shares in the last quarter. Finally, Community Bank N.A. boosted its holdings in shares of Celgene by 3.2% in the 1st quarter. Community Bank N.A. now owns 3,922 shares of the biopharmaceutical company’s stock valued at $370,000 after buying an additional 120 shares in the last quarter. Institutional investors own 74.84% 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 for Celgene (NASDAQ:CELG)

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