$4.01 Billion in Sales Expected for Celgene Co. (CELG) This Quarter

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Equities research analysts expect Celgene Co. (NASDAQ:CELG) to post $4.01 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Celgene’s earnings, with estimates ranging from $3.94 billion to $4.11 billion. Celgene posted sales of $3.54 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.3%. The firm is expected to announce its next quarterly earnings report on Friday, May 3rd.

According to Zacks, analysts expect that Celgene will report full-year sales of $17.14 billion for the current financial year, with estimates ranging from $17.00 billion to $17.41 billion. For the next financial year, analysts forecast that the firm will post sales of $19.38 billion, with estimates ranging from $18.69 billion to $20.09 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Celgene.

Celgene (NASDAQ:CELG) last released its earnings results on Thursday, January 31st. The biopharmaceutical company reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.07. Celgene had a net margin of 26.48% and a return on equity of 125.35%. The company had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.98 billion. During the same quarter last year, the business earned $2.00 EPS.

Several equities research analysts have recently issued reports on CELG shares. BidaskClub cut shares of Celgene from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. Leerink Swann cut shares of Celgene from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 3rd. Mizuho set a $117.00 price objective on shares of Celgene and gave the company a “buy” rating in a research report on Tuesday, October 30th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Celgene in a research report on Thursday, October 25th. Finally, Robert W. Baird upgraded shares of Celgene from a “neutral” rating to an “outperform” rating and set a $92.00 price objective on the stock in a research report on Friday, January 4th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $106.60.

In other Celgene news, Director James J. Loughlin sold 23,466 shares of Celgene stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $87.29, for a total transaction of $2,048,347.14. Following the completion of the transaction, the director now directly owns 62,102 shares of the company’s stock, valued at $5,420,883.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ernest Mario acquired 2,000 shares of the company’s stock in a transaction on Tuesday, February 12th. The shares were purchased at an average cost of $89.99 per share, with a total value of $179,980.00. The disclosure for this purchase can be found here. 0.39% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. HL Financial Services LLC raised its holdings in shares of Celgene by 20.5% in the third quarter. HL Financial Services LLC now owns 4,213 shares of the biopharmaceutical company’s stock valued at $377,000 after acquiring an additional 717 shares in the last quarter. FMR LLC raised its holdings in Celgene by 26.0% in the third quarter. FMR LLC now owns 10,279,258 shares of the biopharmaceutical company’s stock worth $919,890,000 after purchasing an additional 2,119,257 shares in the last quarter. ING Groep NV raised its holdings in Celgene by 116.3% in the third quarter. ING Groep NV now owns 203,229 shares of the biopharmaceutical company’s stock worth $18,187,000 after purchasing an additional 109,292 shares in the last quarter. Morgan Stanley grew its stake in shares of Celgene by 20.4% during the third quarter. Morgan Stanley now owns 3,236,323 shares of the biopharmaceutical company’s stock worth $289,620,000 after acquiring an additional 549,404 shares during the last quarter. Finally, IFM Investors Pty Ltd grew its stake in shares of Celgene by 12.3% during the third quarter. IFM Investors Pty Ltd now owns 38,302 shares of the biopharmaceutical company’s stock worth $3,428,000 after acquiring an additional 4,193 shares during the last quarter. 75.15% of the stock is owned by institutional investors.

NASDAQ CELG traded up $0.01 on Thursday, reaching $90.69. 8,107,459 shares of the stock were exchanged, compared to its average volume of 13,235,239. Celgene has a one year low of $58.59 and a one year high of $96.95. The stock has a market cap of $63.58 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 0.41 and a beta of 1.72. The company has a current ratio of 2.13, a quick ratio of 1.99 and a debt-to-equity ratio of 4.06.

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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