$2.22 EPS Expected for Celgene Co. (CELG) This Quarter

Wall Street brokerages forecast that Celgene Co. (NASDAQ:CELG) will post earnings per share (EPS) of $2.22 for the current quarter, according to Zacks. Nine analysts have provided estimates for Celgene’s earnings. The lowest EPS estimate is $2.16 and the highest is $2.35. Celgene posted earnings of $1.91 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 16.2%. The firm is expected to issue its next quarterly earnings results before the market opens on Thursday, October 25th.

On average, analysts expect that Celgene will report full-year earnings of $8.77 per share for the current year, with EPS estimates ranging from $8.71 to $8.97. For the next financial year, analysts expect that the business will post earnings of $10.71 per share, with EPS estimates ranging from $9.95 to $11.70. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Celgene.

Celgene (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, July 26th. The biopharmaceutical company reported $2.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.05. Celgene had a net margin of 19.81% and a return on equity of 87.28%. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same period last year, the company posted $1.82 EPS. The company’s revenue was up 16.6% on a year-over-year basis.

A number of research analysts have recently weighed in on the stock. Standpoint Research raised shares of Celgene from a “hold” rating to a “buy” rating in a research note on Monday, June 18th. BidaskClub cut shares of Celgene from a “buy” rating to a “hold” rating in a research note on Thursday, September 13th. Cantor Fitzgerald assumed coverage on shares of Celgene in a research note on Monday, October 1st. They set an “overweight” rating and a $100.00 price objective for the company. Morgan Stanley raised their price objective on shares of Celgene from $90.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Friday, July 13th. Finally, SunTrust Banks reissued a “hold” rating and set a $101.00 price objective on shares of Celgene in a research note on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $121.42.

Shares of CELG traded down $1.33 during mid-day trading on Friday, reaching $87.27. 4,742,690 shares of the company’s stock were exchanged, compared to its average volume of 6,553,305. The company has a debt-to-equity ratio of 5.76, a current ratio of 1.52 and a quick ratio of 1.40. Celgene has a 52-week low of $74.13 and a 52-week high of $141.20. The stock has a market cap of $62.94 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 0.54 and a beta of 1.30.

In other news, Director John H. Weiland bought 5,575 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The shares were purchased at an average price of $89.73 per share, for a total transaction of $500,244.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ernest Mario sold 12,000 shares of Celgene stock in a transaction on 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 completion of the transaction, the director now owns 44,413 shares in the company, valued at approximately $4,100,208.16. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Edgewood Management LLC boosted its holdings in shares of Celgene by 16.2% in the 2nd quarter. Edgewood Management LLC now owns 13,924,544 shares of the biopharmaceutical company’s stock valued at $1,105,887,000 after purchasing an additional 1,943,607 shares during the last quarter. FMR LLC boosted its holdings in shares of Celgene by 14.8% in the 2nd quarter. FMR LLC now owns 8,160,001 shares of the biopharmaceutical company’s stock valued at $648,067,000 after purchasing an additional 1,051,528 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Celgene by 60.6% in the 2nd quarter. Renaissance Technologies LLC now owns 4,129,438 shares of the biopharmaceutical company’s stock valued at $327,960,000 after purchasing an additional 1,558,600 shares during the last quarter. Swedbank boosted its holdings in shares of Celgene by 25.0% in the 2nd quarter. Swedbank now owns 3,881,075 shares of the biopharmaceutical company’s stock valued at $308,235,000 after purchasing an additional 777,099 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Celgene by 11.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,648,481 shares of the biopharmaceutical company’s stock valued at $210,342,000 after purchasing an additional 268,597 shares during the last quarter. Institutional investors own 73.11% of the company’s stock.

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.

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