$3.45 Billion in Sales Expected for Celgene Co. (CELG) This Quarter

Equities analysts expect Celgene Co. (NASDAQ:CELG) to report sales of $3.45 billion for the current quarter, Zacks Investment Research reports. Eleven analysts have made estimates for Celgene’s earnings. The lowest sales estimate is $3.34 billion and the highest is $3.62 billion. Celgene posted sales of $2.98 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 15.8%. The firm is expected to report its next quarterly earnings results on Thursday, January 25th.

According to Zacks, analysts expect that Celgene will report full year sales of $3.45 billion for the current year, with estimates ranging from $12.86 billion to $13.13 billion. For the next financial year, analysts forecast that the company will post sales of $14.98 billion per share, with estimates ranging from $14.52 billion to $15.83 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Celgene.

Celgene (NASDAQ:CELG) last released its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.04. Celgene had a net margin of 27.36% and a return on equity of 63.80%. The business had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same period last year, the business earned $1.58 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis.

Several equities analysts recently weighed in on the stock. Mizuho set a $128.00 target price on shares of Celgene and gave the company a “buy” rating in a research note on Tuesday, December 26th. William Blair reissued an “outperform” rating on shares of Celgene in a research note on Friday, October 20th. BidaskClub raised shares of Celgene from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. Citigroup reaffirmed a “hold” rating on shares of Celgene in a research report on Friday, December 22nd. Finally, Leerink Swann reaffirmed a “buy” rating and set a $156.00 price objective on shares of Celgene in a research report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $132.63.

Celgene (NASDAQ:CELG) traded down $0.39 during trading hours on Monday, hitting $104.36. 4,424,672 shares of the company traded hands, compared to its average volume of 4,824,942. Celgene has a twelve month low of $94.55 and a twelve month high of $147.17. The company has a quick ratio of 3.52, a current ratio of 3.65 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $82,164.40, a PE ratio of 24.79, a PEG ratio of 0.81 and a beta of 1.77.

Several institutional investors have recently made changes to their positions in the company. Neuberger Berman Group LLC raised its stake in Celgene by 4.0% in the first quarter. Neuberger Berman Group LLC now owns 1,844,837 shares of the biopharmaceutical company’s stock valued at $229,553,000 after purchasing an additional 71,729 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in Celgene by 1.3% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 185,306 shares of the biopharmaceutical company’s stock valued at $23,056,000 after purchasing an additional 2,397 shares in the last quarter. WFG Advisors LP raised its stake in Celgene by 34.5% in the first quarter. WFG Advisors LP now owns 2,036 shares of the biopharmaceutical company’s stock valued at $253,000 after purchasing an additional 522 shares in the last quarter. Westpac Banking Corp raised its stake in Celgene by 31.2% in the first quarter. Westpac Banking Corp now owns 75,864 shares of the biopharmaceutical company’s stock valued at $8,612,000 after purchasing an additional 18,029 shares in the last quarter. Finally, Comerica Securities Inc. raised its stake in Celgene by 237.6% in the first quarter. Comerica Securities Inc. now owns 22,007 shares of the biopharmaceutical company’s stock valued at $2,738,000 after purchasing an additional 15,489 shares in the last quarter. 79.74% of the stock is owned by institutional investors.

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About Celgene

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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Earnings History and Estimates for Celgene (NASDAQ:CELG)

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