Celgene Corp. (CELG) Updates FY13 Earnings Guidance
Celgene Corp. (NASDAQ:CELG) updated its FY13 earnings guidance on Monday. The company provided earnings per share guidance of $5.96 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.95, AR Network reports. The company issued revenue guidance of $6.4 billion, compared to the consensus revenue estimate of $6.43 billion.Celgene Corp. also updated its Q4 guidance to $1.51 EPS.
Shares of Celgene Corp. (NASDAQ:CELG) traded down 2.89% during mid-day trading on Monday, hitting $164.90. The stock had a trading volume of 7,857,077 shares. Celgene Corp. has a 1-year low of $95.37 and a 1-year high of $173.80. The stock’s 50-day moving average is $165.7 and its 200-day moving average is $149.2. The company has a market cap of $67.950 billion and a P/E ratio of 48.89.
Celgene Corp. (NASDAQ:CELG) last posted its quarterly 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 last year, the company posted $1.29 earnings per share. Celgene Corp.’s revenue was up 18.0% compared to the same quarter last year. On average, analysts predict that Celgene Corp. will post $6.00 earnings per share for the current fiscal year.
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 equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-two have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus 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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