Leerink Swann Brokers Boost Earnings Estimates for Celgene Co. (CELG)
Celgene Co. (NASDAQ:CELG) – Research analysts at Leerink Swann upped their FY2017 earnings per share (EPS) estimates for Celgene in a report issued on Thursday. Leerink Swann analyst G. Porges now anticipates that the biopharmaceutical company will post earnings of $6.81 per share for the year, up from their prior forecast of $6.78. Leerink Swann has a “Buy” rating and a $120.00 price objective on the stock. Leerink Swann also issued estimates for Celgene’s Q4 2017 earnings at $1.85 EPS, Q1 2018 earnings at $1.89 EPS, Q2 2018 earnings at $2.08 EPS, Q3 2018 earnings at $2.13 EPS, Q4 2018 earnings at $2.28 EPS, FY2018 earnings at $8.37 EPS, FY2019 earnings at $10.18 EPS and FY2021 earnings at $14.39 EPS.
Celgene (NASDAQ:CELG) last released its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.04. The company had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.42 billion. Celgene had a return on equity of 63.80% and a net margin of 27.36%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.58 EPS.
Shares of Celgene (NASDAQ:CELG) opened at $102.91 on Monday. The stock has a market capitalization of $81,020.00, a PE ratio of 24.27, a PEG ratio of 0.65 and a beta of 1.77. Celgene has a 52 week low of $94.55 and a 52 week high of $147.17. The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.52 and a current ratio of 3.65.
A number of institutional investors have recently bought and sold shares of CELG. Janus Henderson Group PLC raised its holdings in shares of Celgene by 4,290.5% in the 2nd quarter. Janus Henderson Group PLC now owns 8,408,961 shares of the biopharmaceutical company’s stock worth $1,092,071,000 after buying an additional 8,217,433 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Celgene by 5.7% in the 2nd quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock worth $7,366,919,000 after buying an additional 3,084,227 shares in the last quarter. Oaktop Capital Management II L.P. acquired a new position in shares of Celgene in the 2nd quarter worth approximately $271,605,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Celgene by 1,489.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,907,052 shares of the biopharmaceutical company’s stock worth $247,669,000 after buying an additional 1,787,052 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Celgene by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock worth $6,951,579,000 after buying an additional 1,610,056 shares in the last quarter. 79.54% of the stock is owned by hedge funds and other institutional investors.
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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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