Celgene Corporation to Post FY2019 Earnings of $10.08 Per Share, Leerink Swann Forecasts (CELG)
Celgene Corporation (NASDAQ:CELG) – Investment analysts at Leerink Swann lowered their FY2019 EPS estimates for shares of Celgene Corporation in a research note issued on Monday. Leerink Swann analyst G. Porges now anticipates that the biopharmaceutical company will post earnings per share of $10.08 for the year, down from their previous forecast of $10.13. Leerink Swann has a “Buy” rating and a $156.00 price objective on the stock. Leerink Swann also issued estimates for Celgene Corporation’s FY2020 earnings at $12.34 EPS and FY2021 earnings at $14.50 EPS.
Celgene Corporation (NASDAQ:CELG) last released its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.04. Celgene Corporation had a net margin of 27.36% and a return on equity of 63.80%. The business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same period in the previous year, the firm earned $1.58 EPS. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. WARNING: This article was published by Watch List News and is the property of of Watch List News. If you are accessing this article on another domain, it was illegally stolen and republished in violation of United States & international copyright legislation. The original version of this article can be read at https://www.watchlistnews.com/celgene-corporation-to-post-fy2019-earnings-of-10-08-per-share-leerink-swann-forecasts-celg/1694152.html.
CELG has been the topic of a number of other reports. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $175.00 target price (up from $148.00) on shares of Celgene Corporation in a report on Monday, July 31st. Cantor Fitzgerald set a $160.00 target price on shares of Celgene Corporation and gave the stock a “buy” rating in a report on Thursday, July 27th. William Blair reiterated an “outperform” rating on shares of Celgene Corporation in a report on Friday, October 20th. BMO Capital Markets reiterated an “outperform” rating and issued a $160.00 target price (up from $152.00) on shares of Celgene Corporation in a report on Friday, July 28th. Finally, Piper Jaffray Companies reiterated a “neutral” rating and issued a $133.00 target price on shares of Celgene Corporation in a report on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $139.64.
Celgene Corporation (NASDAQ:CELG) traded down $0.12 during midday trading on Wednesday, hitting $102.34. 5,848,629 shares of the company were exchanged, compared to its average volume of 4,674,879. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.65 and a quick ratio of 3.52. Celgene Corporation has a twelve month low of $94.55 and a twelve month high of $147.17. The company has a market cap of $80,420.00, a P/E ratio of 15.88, a P/E/G ratio of 0.78 and a beta of 1.79.
In other Celgene Corporation news, Director Michael D. Casey sold 9,250 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $139.03, for a total transaction of $1,286,027.50. Following the sale, the director now owns 9,250 shares of the company’s stock, valued at approximately $1,286,027.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Terrie Curran sold 1,727 shares of the stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $143.89, for a total transaction of $248,498.03. Following the sale, the insider now directly owns 3,925 shares in the company, valued at approximately $564,768.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,227 shares of company stock valued at $2,843,956. Corporate insiders own 0.95% of the company’s stock.
A number of large investors have recently modified their holdings of CELG. Arcadia Investment Management Corp MI raised its position in shares of Celgene Corporation by 118.7% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after acquiring an additional 400 shares during the period. Thompson Davis & CO. Inc. raised its position in shares of Celgene Corporation by 5.9% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after acquiring an additional 43 shares during the period. Robecosam AG acquired a new stake in shares of Celgene Corporation in the 3rd quarter valued at approximately $114,000. Guidant Wealth Advisors acquired a new stake in shares of Celgene Corporation in the 3rd quarter valued at approximately $119,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Celgene Corporation in the 1st quarter valued at approximately $118,000. 78.92% of the stock is currently owned by hedge funds and other 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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