Celgene Corp. (CELG) Releases Q4 Earnings Guidance
Celgene Corp. (NASDAQ:CELG) updated its fourth quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $1.51 for the period, compared to the Thomson Reuters consensus estimate of $1.54, American Banking & Market News reports. Celgene Corp. also updated its FY13 guidance to $5.96 EPS.
Celgene Corp. (NASDAQ:CELG) last announced its earnings results on Thursday, October 24th. The company reported $1.56 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.54 by $0.02. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the previous year, the company posted $1.29 earnings per share. The company’s revenue for the quarter was up 18.0% on a year-over-year basis.
A number of analysts have recently weighed in on CELG shares. Analysts at Barclays raised their price target on shares of Celgene Corp. from $173.00 to $182.00 in a research note to investors on Friday. They now have an overweight rating on the stock. On a related note, analysts at Nomura initiated coverage on shares of Celgene Corp. in a research note to investors on Wednesday, January 8th. They set a buy rating on the stock. Finally, analysts at UBS AG downgraded shares of Celgene Corp. from a hold rating to a sell rating in a research note to investors on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-two have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $163.44.
Celgene Corporation is a global biopharmaceutical company engaged in the discovery, development and commercialization of therapies designed to treat cancer and immune-inflammatory related diseases.
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