Analysts Offer Predictions for Celgene Co.’s FY2018 Earnings (CELG)
Celgene Co. (NASDAQ:CELG) – Equities research analysts at Leerink Swann lowered their FY2018 earnings estimates for shares of Celgene in a report issued on Wednesday. Leerink Swann analyst G. Porges now anticipates that the biopharmaceutical company will post earnings per share of $7.67 for the year, down from their prior estimate of $7.70. Leerink Swann currently has a “Buy” rating and a $120.00 price target on the stock.
Celgene (NASDAQ:CELG) last issued its quarterly earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. The business had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.46 billion. Celgene had a return on equity of 67.50% and a net margin of 22.38%. During the same period in the prior year, the firm posted $1.61 earnings per share. The business’s quarterly revenue was up 16.9% on a year-over-year basis.
Celgene (CELG) opened at $89.33 on Friday. The company has a debt-to-equity ratio of 2.29, a current ratio of 4.99 and a quick ratio of 4.80. Celgene has a 12-month low of $86.55 and a 12-month high of $147.17. The stock has a market capitalization of $68,840.00, a price-to-earnings ratio of 17.02, a P/E/G ratio of 0.62 and a beta of 1.58.
A number of institutional investors have recently modified their holdings of CELG. Janus Henderson Group PLC lifted its stake in 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 valued at $1,092,071,000 after buying an additional 8,217,433 shares in the last quarter. BlackRock Inc. lifted its stake in Celgene by 5.7% in the 2nd quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock valued at $7,366,919,000 after buying an additional 3,084,227 shares in the last quarter. Two Sigma Advisers LP lifted its stake in Celgene by 361.3% in the 4th quarter. Two Sigma Advisers LP now owns 3,134,127 shares of the biopharmaceutical company’s stock valued at $327,077,000 after buying an additional 2,454,703 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in 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 valued at $247,669,000 after buying an additional 1,787,052 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Celgene by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock valued at $6,951,579,000 after buying an additional 1,610,056 shares in the last quarter. 77.84% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Gilla Kaplan sold 9,250 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $95.99, for a total value of $887,907.50. Following the transaction, the director now directly owns 94,801 shares of the company’s stock, valued at approximately $9,099,947.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ernest Mario sold 13,370 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $94.49, for a total transaction of $1,263,331.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,870 shares of company stock worth $3,028,416. Corporate insiders own 0.95% of the company’s stock.
Celgene announced that its board has approved a share buyback plan on Wednesday, February 14th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the biopharmaceutical company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
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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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