Celgene Corporation (NASDAQ:CELG) Expected to Announce Earnings of $1.72 Per Share
Brokerages expect Celgene Corporation (NASDAQ:CELG) to announce $1.72 earnings per share for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Celgene Corporation’s earnings, with estimates ranging from $1.68 to $1.84. Celgene Corporation posted earnings of $1.39 per share in the same quarter last year, which would suggest a positive year over year growth rate of 23.7%. The firm is scheduled to announce its next earnings results on Thursday, October 26th.
According to Zacks, analysts expect that Celgene Corporation will report full year earnings of $6.68 per share for the current year, with EPS estimates ranging from $6.61 to $6.81. For the next fiscal year, analysts anticipate that the business will post earnings of $8.41 per share, with EPS estimates ranging from $8.23 to $8.74. Zacks’ EPS averages are a mean average based on a survey of research firms that that provide coverage for Celgene Corporation.
Celgene Corporation (NASDAQ:CELG) last announced its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.21. The firm had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.44 earnings per share.
Several analysts have commented on CELG shares. Jefferies Group LLC set a $154.00 price target on Celgene Corporation and gave the company a “buy” rating in a report on Saturday, May 13th. Vetr cut Celgene Corporation from a “strong-buy” rating to a “buy” rating and set a $132.90 target price for the company. in a report on Thursday, May 11th. BTIG Research reiterated a “buy” rating and set a $138.00 target price on shares of Celgene Corporation in a report on Monday, May 1st. Cantor Fitzgerald set a $159.00 target price on Celgene Corporation and gave the stock a “buy” rating in a report on Thursday, April 27th. Finally, Cann reiterated a “buy” rating on shares of Celgene Corporation in a report on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have assigned a buy rating to the stock. Celgene Corporation currently has a consensus rating of “Buy” and an average price target of $147.06.
Shares of Celgene Corporation (NASDAQ:CELG) traded up 0.22% during mid-day trading on Friday, hitting $135.57. 3,082,348 shares of the stock were exchanged. Celgene Corporation has a 52-week low of $96.93 and a 52-week high of $139.00. The stock’s 50-day moving average price is $133.32 and its 200-day moving average price is $123.59. The company has a market cap of $106.06 billion, a P/E ratio of 41.99 and a beta of 1.89.
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In related news, Director Michael D. Casey sold 9,250 shares of the company’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $125.59, for a total transaction of $1,161,707.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gilla Kaplan sold 7,500 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $134.52, for a total value of $1,008,900.00. Following the transaction, the director now owns 76,301 shares of the company’s stock, valued at $10,264,010.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 235,255 shares of company stock valued at $31,377,042. 0.95% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Celgene Corporation during the fourth quarter valued at about $694,111,000. Oaktop Capital Management II L.P. acquired a new position in Celgene Corporation during the second quarter valued at about $271,605,000. Bank of Montreal Can boosted its position in Celgene Corporation by 149.8% in the first quarter. Bank of Montreal Can now owns 3,299,988 shares of the biopharmaceutical company’s stock valued at $410,615,000 after buying an additional 1,979,061 shares during the last quarter. Harbour Capital Advisors LLC boosted its position in Celgene Corporation by 12,913.6% in the second quarter. Harbour Capital Advisors LLC now owns 1,587,271 shares of the biopharmaceutical company’s stock valued at $12,222,000 after buying an additional 1,575,074 shares during the last quarter. Finally, Investec Asset Management LTD acquired a new position in Celgene Corporation during the first quarter valued at about $194,490,000. 78.41% of the stock is owned by institutional investors.
About Celgene Corporation
Celgene Corporation is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is engaged in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.
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