Celgene Corporation Forecasted to Earn FY2019 Earnings of $10.51 Per Share (CELG)
Celgene Corporation (NASDAQ:CELG) – Analysts at Leerink Swann reduced their FY2019 EPS estimates for shares of Celgene Corporation in a research note issued to investors on Thursday. Leerink Swann analyst G. Porges now anticipates that the biopharmaceutical company will earn $10.51 per share for the year, down from their prior forecast of $10.56. Leerink Swann has a “Buy” rating and a $156.00 price objective on the stock.
Celgene Corporation (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.21. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.23 billion. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. Celgene Corporation’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.44 earnings per share.
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CELG has been the topic of several other reports. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $175.00 target price (up from $148.00) on shares of Celgene Corporation in a research report on Monday, July 31st. Cantor Fitzgerald set a $160.00 price target on shares of Celgene Corporation and gave the stock a “buy” rating in a report on Thursday, July 27th. William Blair restated an “outperform” rating on shares of Celgene Corporation in a report on Friday. BMO Capital Markets restated an “outperform” rating and set a $160.00 price target (up previously from $152.00) on shares of Celgene Corporation in a report on Friday, July 28th. Finally, Piper Jaffray Companies restated a “neutral” rating and set a $133.00 price target on shares of Celgene Corporation in a report on Monday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $149.71.
Shares of Celgene Corporation (NASDAQ CELG) opened at 121.33 on Monday. The company has a market capitalization of $94.92 billion, a P/E ratio of 37.58 and a beta of 1.88. The company’s 50 day moving average is $140.79 and its 200-day moving average is $130.41. Celgene Corporation has a 1-year low of $96.93 and a 1-year high of $147.17.
Institutional investors have recently made changes to their positions in the stock. Thompson Davis & CO. Inc. raised its stake in Celgene Corporation by 5.9% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after acquiring an additional 43 shares during the period. Arcadia Investment Management Corp MI raised its stake in Celgene Corporation by 118.7% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after acquiring an additional 400 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Celgene Corporation in the 1st quarter valued at about $118,000. Motco raised its stake in Celgene Corporation by 19.3% in the 2nd quarter. Motco now owns 981 shares of the biopharmaceutical company’s stock valued at $127,000 after acquiring an additional 159 shares during the period. Finally, Penserra Capital Management LLC bought a new stake in Celgene Corporation in the 2nd quarter valued at about $129,000. Institutional investors and hedge funds own 79.24% of the company’s stock.
In related news, Director Ernest Mario sold 18,506 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $130.52, for a total value of $2,415,403.12. Following the transaction, the director now directly owns 69,424 shares of the company’s stock, valued at approximately $9,061,220.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gilla Kaplan sold 7,500 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $134.52, for a total transaction of $1,008,900.00. Following the completion of the transaction, the director now directly owns 76,301 shares in the company, valued at $10,264,010.52. The disclosure for this sale can be found here. Insiders sold a total of 46,233 shares of company stock worth $6,268,259 over the last three months. 0.95% of the stock is owned by insiders.
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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