Celgene (CELG) Issues Q4 Earnings Guidance
Celgene (NASDAQ:CELG) updated its fourth quarter earnings guidance on Monday. The company provided EPS guidance of $2.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.93. The company issued revenue guidance of $3.48 billion, compared to the consensus revenue estimate of $3.46 billion.Celgene also updated its FY18 guidance to $8.70-8.90 EPS.
A number of brokerages have recently issued reports on CELG. Royal Bank of Canada reaffirmed a buy rating and issued a $173.00 price objective on shares of Celgene in a research note on Thursday, October 5th. Morgan Stanley cut shares of Celgene from an equal weight rating to an underweight rating and set a $120.00 price objective for the company. in a research note on Thursday, October 5th. Robert W. Baird reissued a buy rating and set a $162.00 price target on shares of Celgene in a research report on Thursday, September 21st. Cantor Fitzgerald reissued a buy rating and set a $162.00 price target on shares of Celgene in a research report on Tuesday, September 26th. Finally, Jefferies Group reissued a buy rating and set a $160.00 price target on shares of Celgene in a research report on Friday, September 15th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty have issued a buy rating to the company’s stock. Celgene has an average rating of Buy and an average target price of $131.47.
Shares of Celgene (CELG) traded down $1.41 during midday trading on Monday, reaching $103.58. 9,090,000 shares of the company’s stock traded hands, compared to its average volume of 5,720,000. The company has a quick ratio of 3.52, a current ratio of 3.65 and a debt-to-equity ratio of 1.31. Celgene has a 1-year low of $94.55 and a 1-year high of $147.17. The company has a market cap of $81,550.00, a price-to-earnings ratio of 24.43, a PEG ratio of 0.68 and a beta of 1.77.
Celgene (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $1.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.04. Celgene had a net margin of 27.36% and a return on equity of 63.80%. The business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.42 billion. During the same period in the prior year, the business earned $1.58 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. research analysts expect that Celgene will post 6.68 EPS for the current year.
Institutional investors have recently modified their holdings of the stock. Piedmont Investment Advisors LLC increased its stake in shares of Celgene by 1.5% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 165,696 shares of the biopharmaceutical company’s stock worth $21,519,000 after acquiring an additional 2,522 shares in the last quarter. Krilogy Financial LLC increased its stake in shares of Celgene by 65.0% in the 2nd quarter. Krilogy Financial LLC now owns 3,540 shares of the biopharmaceutical company’s stock worth $460,000 after acquiring an additional 1,395 shares in the last quarter. Sterling Capital Management LLC increased its stake in shares of Celgene by 682.1% in the 2nd quarter. Sterling Capital Management LLC now owns 37,423 shares of the biopharmaceutical company’s stock worth $4,860,000 after acquiring an additional 32,638 shares in the last quarter. Westwood Holdings Group Inc. bought a new position in shares of Celgene in the 2nd quarter worth about $236,000. Finally, BB&T Investment Services Inc. bought a new position in shares of Celgene in the 2nd quarter worth about $571,000. Institutional investors own 79.74% of the company’s stock.
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Celgene 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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