FY2017 EPS Estimates for Celgene Corporation Decreased by Analyst (CELG)
Celgene Corporation (NASDAQ:CELG) – Equities research analysts at Leerink Swann cut their FY2017 earnings estimates for Celgene Corporation in a note issued to investors on Monday. Leerink Swann analyst G. Porges now anticipates that the biopharmaceutical company will post earnings of $6.78 per share for the year, down from their prior forecast of $6.81. Leerink Swann has a “Outperform” rating and a $160.00 price target on the stock. Leerink Swann also issued estimates for Celgene Corporation’s FY2018 earnings at $8.36 EPS, FY2020 earnings at $13.03 EPS and FY2021 earnings at $15.58 EPS.
Celgene Corporation (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.21. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The firm had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the prior year, the company earned $1.44 EPS. The company’s revenue was up 18.7% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: “FY2017 EPS Estimates for Celgene Corporation Decreased by Analyst (CELG)” was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The original version of this piece can be read at https://www.thecerbatgem.com/2017/10/18/fy2017-eps-estimates-for-celgene-corporation-decreased-by-analyst-celg.html.
A number of other equities research analysts have also recently weighed in on the stock. Morgan Stanley cut shares of Celgene Corporation from an “equal weight” rating to an “underweight” rating and set a $120.00 price target for the company. in a research report on Thursday, October 5th. William Blair reiterated an “outperform” rating on shares of Celgene Corporation in a research report on Monday, June 26th. Cantor Fitzgerald reissued a “buy” rating on shares of Celgene Corporation in a research note on Monday, August 28th. BTIG Research lowered shares of Celgene Corporation from a “buy” rating to a “neutral” rating and raised their price objective for the company from $96.93 to $131.70 in a research note on Friday, June 30th. Finally, BidaskClub raised shares of Celgene Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $151.53.
Shares of Celgene Corporation (NASDAQ CELG) opened at 139.142 on Wednesday. Celgene Corporation has a 12 month low of $96.93 and a 12 month high of $147.17. The stock has a 50 day moving average of $141.03 and a 200 day moving average of $130.15. The stock has a market cap of $108.86 billion, a PE ratio of 43.091 and a beta of 1.88.
In other news, insider Terrie Curran sold 1,727 shares of the firm’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $143.89, for a total transaction of $248,498.03. Following the transaction, the insider now directly owns 3,925 shares of the company’s stock, valued at $564,768.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gilla Kaplan sold 7,500 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $134.52, for a total value of $1,008,900.00. Following the transaction, the director now directly owns 76,301 shares in the company, valued at $10,264,010.52. The disclosure for this sale can be found here. Insiders have sold 46,233 shares of company stock worth $6,268,259 over the last three months. Corporate insiders own 0.95% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Beacon Financial Group acquired a new position in shares of Celgene Corporation during the third quarter valued at $351,000. Centre Asset Management LLC acquired a new position in shares of Celgene Corporation during the third quarter valued at $5,878,000. Neville Rodie & Shaw Inc. increased its holdings in shares of Celgene Corporation by 4.7% during the third quarter. Neville Rodie & Shaw Inc. now owns 70,468 shares of the biopharmaceutical company’s stock valued at $10,276,000 after purchasing an additional 3,150 shares during the period. Eqis Capital Management Inc. increased its holdings in shares of Celgene Corporation by 16.5% during the third quarter. Eqis Capital Management Inc. now owns 40,165 shares of the biopharmaceutical company’s stock valued at $5,857,000 after purchasing an additional 5,685 shares during the period. Finally, Park National Corp OH increased its holdings in shares of Celgene Corporation by 11.5% during the third quarter. Park National Corp OH now owns 4,125 shares of the biopharmaceutical company’s stock valued at $601,000 after purchasing an additional 426 shares during the period. 79.24% of the stock is currently owned by institutional investors.
Celgene Corporation Company Profile
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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