Celgene Corporation (CELG) Expected to Announce Quarterly Sales of $3.46 Billion
Equities analysts expect Celgene Corporation (NASDAQ:CELG) to post sales of $3.46 billion for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have made estimates for Celgene’s earnings. The highest sales estimate is $3.62 billion and the lowest is $3.37 billion. Celgene reported sales of $2.98 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 16.1%. The company is expected to announce its next quarterly earnings results on Thursday, January 25th.
On average, analysts expect that Celgene will report full-year sales of $3.46 billion for the current financial year, with estimates ranging from $12.86 billion to $13.13 billion. For the next financial year, analysts anticipate that the firm will report sales of $14.96 billion per share, with estimates ranging from $14.52 billion to $15.83 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Celgene.
Celgene (NASDAQ:CELG) last posted its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.04. The firm had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.42 billion. Celgene had a net margin of 27.36% and a return on equity of 63.80%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.58 earnings per share.
Several brokerages recently weighed in on CELG. Morgan Stanley cut shares of Celgene from an “equal weight” rating to an “underweight” rating and set a $120.00 price objective on the stock. in a research note on Thursday, October 5th. Royal Bank Of Canada reissued a “buy” rating and issued a $173.00 price objective on shares of Celgene in a research note on Thursday, October 5th. Robert W. Baird reissued a “buy” rating and issued a $162.00 price objective on shares of Celgene in a research note on Thursday, September 21st. Cantor Fitzgerald reissued a “buy” rating and issued a $162.00 price objective on shares of Celgene in a research note on Tuesday, September 26th. Finally, Bank of America Corporation reissued a “buy” rating on shares of Celgene in a research note on Wednesday, September 13th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $139.57.
In other news, Director Gilla Kaplan sold 9,250 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $141.56, for a total transaction of $1,309,430.00. Following the transaction, the director now owns 85,551 shares in the company, valued at $12,110,599.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Terrie Curran sold 1,727 shares of the company’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $143.89, for a total transaction of $248,498.03. Following the transaction, the insider now owns 3,925 shares in the company, valued at approximately $564,768.25. The disclosure for this sale can be found here. Insiders have sold 20,227 shares of company stock worth $2,843,956 in the last ninety days. Insiders own 0.95% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Thompson Davis & CO. Inc. raised its holdings in shares of Celgene by 5.9% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 43 shares during the last quarter. Arcadia Investment Management Corp MI raised its holdings in shares of Celgene by 118.7% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 400 shares during the last quarter. Robecosam AG acquired a new stake in shares of Celgene in the 3rd quarter worth about $114,000. Guidant Wealth Advisors acquired a new stake in shares of Celgene in the 3rd quarter worth about $119,000. Finally, Capital Bank & Trust Co raised its holdings in shares of Celgene by 166.8% in the 3rd quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock worth $121,000 after acquiring an additional 517 shares during the last quarter. Hedge funds and other institutional investors own 79.48% of the company’s stock.
Celgene (NASDAQ:CELG) traded down $1.17 during midday trading on Monday, hitting $103.33. 4,313,132 shares of the company’s stock were exchanged, compared to its average volume of 4,724,671. The company has a market capitalization of $82,274.63, a PE ratio of 16.33, a PEG ratio of 0.81 and a beta of 1.79. Celgene has a 12-month low of $94.55 and a 12-month high of $147.17. The company has a current ratio of 3.65, a quick ratio of 3.52 and a debt-to-equity ratio of 1.31.
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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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