Brokerages expect Celgene Co. (NASDAQ:CELG) to announce $4.24 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Celgene’s earnings. The lowest sales estimate is $4.18 billion and the highest is $4.37 billion. Celgene reported sales of $3.81 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 11.3%. The business is scheduled to issue its next earnings results on Thursday, July 25th.
On average, analysts expect that Celgene will report full year sales of $17.12 billion for the current fiscal year, with estimates ranging from $16.87 billion to $17.48 billion. For the next fiscal year, analysts expect that the company will report sales of $19.23 billion, with estimates ranging from $18.37 billion to $20.29 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Celgene.
Celgene (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported $2.55 EPS for the quarter, beating the Zacks’ consensus estimate of $2.45 by $0.10. Celgene had a net margin of 30.10% and a return on equity of 106.69%. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the business earned $2.05 earnings per share. The business’s revenue for the quarter was up 13.8% on a year-over-year basis.
CELG has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Celgene from a “hold” rating to a “strong-buy” rating and set a $99.00 price objective on the stock in a research note on Wednesday, January 23rd. Cantor Fitzgerald reiterated a “buy” rating and set a $100.00 price objective on shares of Celgene in a research note on Thursday, January 31st. Jefferies Financial Group lowered shares of Celgene from a “buy” rating to a “hold” rating and set a $95.00 price objective on the stock. in a research note on Friday, February 1st. Cowen initiated coverage on shares of Celgene in a research note on Tuesday, February 26th. They set a “market perform” rating and a $102.00 price objective on the stock. Finally, William Blair reiterated a “buy” rating on shares of Celgene in a research note on Thursday, February 28th. Twenty analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $95.96.
Institutional investors have recently bought and sold shares of the business. Archford Capital Strategies LLC grew its position in Celgene by 277.8% in the first quarter. Archford Capital Strategies LLC now owns 272 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 200 shares during the last quarter. Investors Research Corp acquired a new position in Celgene in the first quarter worth approximately $28,000. Alera Investment Advisors LLC grew its position in Celgene by 109.9% in the first quarter. Alera Investment Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 167 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in Celgene in the first quarter worth approximately $31,000. Finally, Creative Financial Designs Inc. ADV boosted its stake in Celgene by 1,968.8% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 331 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 315 shares during the period. Hedge funds and other institutional investors own 71.71% of the company’s stock.
NASDAQ CELG opened at $94.96 on Thursday. Celgene has a 12 month low of $58.59 and a 12 month high of $97.07. The company has a current ratio of 2.78, a quick ratio of 2.66 and a debt-to-equity ratio of 2.42. The company has a market cap of $66.40 billion, a P/E ratio of 12.48, a P/E/G ratio of 0.43 and a beta of 1.68.
Celgene Company Profile
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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