Brokerages expect that Celgene Corporation (NASDAQ:CELG) will report earnings per share (EPS) of $1.62 for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Celgene Corporation’s earnings. The lowest EPS estimate is $1.54 and the highest is $1.68. Celgene Corporation posted earnings per share of $1.28 during the same quarter last year, which would indicate a positive year-over-year growth rate of 26.6%. The firm is expected to announce its next earnings results before the market opens on Thursday, July 27th.
On average, analysts expect that Celgene Corporation will report full-year earnings of $6.63 per share for the current financial year, with EPS estimates ranging from $6.49 to $6.79. For the next fiscal year, analysts expect that the business will post earnings of $8.19 per share, with EPS estimates ranging from $7.79 to $8.44. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that cover Celgene Corporation.
Celgene Corporation (NASDAQ:CELG) last announced its earnings results on Thursday, April 27th. The biopharmaceutical company reported $1.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.21. The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.04 billion. Celgene Corporation had a return on equity of 70.94% and a net margin of 18.32%. The business’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.32 EPS.
Several equities analysts recently issued reports on the company. Cantor Fitzgerald set a $159.00 price objective on Celgene Corporation and gave the stock a “buy” rating in a report on Thursday, April 27th. Leerink Swann reissued a “market perform” rating on shares of Celgene Corporation in a report on Monday, March 20th. Cann reissued a “buy” rating and issued a $148.00 price target on shares of Celgene Corporation in a report on Tuesday, April 4th. Canaccord Genuity set a $156.00 price target on Celgene Corporation and gave the stock a “buy” rating in a report on Tuesday, June 6th. Finally, BidaskClub raised Celgene Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $141.92.
Shares of Celgene Corporation (CELG) traded down 0.44% during mid-day trading on Thursday, hitting $134.27. The company had a trading volume of 2,109,506 shares. The firm has a market capitalization of $104.84 billion, a P/E ratio of 50.42 and a beta of 1.89. The firm has a 50-day moving average price of $121.46 and a 200 day moving average price of $120.59. Celgene Corporation has a 12 month low of $96.93 and a 12 month high of $135.99.
In related news, insider Robert J. Hugin sold 175,970 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $134.14, for a total value of $23,604,615.80. Following the completion of the sale, the insider now owns 1,033,909 shares of the company’s stock, valued at $138,688,553.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Rupert Vessey sold 4,785 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $120.18, for a total transaction of $575,061.30. Following the completion of the sale, the insider now directly owns 4,004 shares of the company’s stock, valued at approximately $481,200.72. The disclosure for this sale can be found here. Insiders sold 237,005 shares of company stock valued at $31,515,142 in the last quarter. 0.95% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in CELG. Norges Bank acquired a new stake in Celgene Corporation during the fourth quarter worth approximately $694,111,000. Bank of Montreal Can boosted its position in shares of Celgene Corporation by 149.8% in the first quarter. Bank of Montreal Can now owns 3,299,988 shares of the biopharmaceutical company’s stock worth $410,615,000 after buying an additional 1,979,061 shares in the last quarter. Investec Asset Management LTD purchased a new position in shares of Celgene Corporation during the first quarter worth $194,490,000. Polen Capital Management LLC boosted its position in shares of Celgene Corporation by 27.0% in the fourth quarter. Polen Capital Management LLC now owns 4,352,572 shares of the biopharmaceutical company’s stock worth $503,810,000 after buying an additional 926,521 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of Celgene Corporation by 24.1% in the first quarter. Clearbridge Investments LLC now owns 4,601,919 shares of the biopharmaceutical company’s stock worth $572,617,000 after buying an additional 892,392 shares in the last quarter. 78.16% of the stock is 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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