Leerink Swann Weighs in on Celgene Co.’s FY2017 Earnings (CELG)

Celgene Co. (NASDAQ:CELG) – Equities research analysts at Leerink Swann boosted their FY2017 earnings estimates for Celgene in a research note issued to investors on Thursday. Leerink Swann analyst G. Porges now expects that the biopharmaceutical company will post earnings of $6.81 per share for the year, up from their prior forecast of $6.78. Leerink Swann currently has a “Buy” rating and a $120.00 target price on the stock. Leerink Swann also issued estimates for Celgene’s Q4 2017 earnings at $1.85 EPS, Q1 2018 earnings at $1.89 EPS, Q2 2018 earnings at $2.08 EPS, Q3 2018 earnings at $2.13 EPS, Q4 2018 earnings at $2.28 EPS, FY2018 earnings at $8.37 EPS, FY2019 earnings at $10.18 EPS and FY2021 earnings at $14.39 EPS.

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 Thomson Reuters’ consensus estimate of $1.87 by $0.04. Celgene had a return on equity of 63.80% and a net margin of 27.36%. The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same period in the previous year, the business earned $1.58 earnings per share. Celgene’s quarterly revenue was up 10.2% compared to the same quarter last year.

Other equities analysts also recently issued reports about the company. Cantor Fitzgerald restated a “buy” rating and issued a $162.00 price objective on shares of Celgene in a research report on Tuesday, September 26th. Vetr upgraded Celgene from a “hold” rating to a “buy” rating and set a $146.58 price objective on the stock in a research report on Friday, October 6th. Royal Bank of Canada restated a “buy” rating and issued a $173.00 price objective on shares of Celgene in a research report on Thursday, October 5th. JPMorgan Chase & Co. restated a “buy” rating on shares of Celgene in a research report on Monday, October 16th. Finally, Jefferies Group restated a “buy” rating and issued a $160.00 price objective on shares of Celgene in a research report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Celgene currently has a consensus rating of “Buy” and an average price target of $129.98.

Celgene (CELG) opened at $102.65 on Monday. Celgene has a 52-week low of $94.55 and a 52-week high of $147.17. The company has a market capitalization of $80,820.00, a PE ratio of 24.21, a PEG ratio of 0.66 and a beta of 1.77. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.65 and a quick ratio of 3.52.

A number of hedge funds and other institutional investors have recently modified their holdings of CELG. CHURCHILL MANAGEMENT Corp increased its stake in Celgene by 9.5% during the second quarter. CHURCHILL MANAGEMENT Corp now owns 45,117 shares of the biopharmaceutical company’s stock worth $5,859,000 after acquiring an additional 3,921 shares during the last quarter. Arvest Bank Trust Division increased its stake in Celgene by 1.5% during the second quarter. Arvest Bank Trust Division now owns 113,865 shares of the biopharmaceutical company’s stock worth $14,788,000 after acquiring an additional 1,681 shares during the last quarter. Acropolis Investment Management LLC bought a new stake in Celgene during the second quarter worth approximately $144,000. Hills Bank & Trust Co. increased its stake in Celgene by 2.5% during the second quarter. Hills Bank & Trust Co. now owns 11,031 shares of the biopharmaceutical company’s stock worth $1,432,000 after acquiring an additional 268 shares during the last quarter. Finally, Private Capital Advisors Inc. increased its stake in Celgene by 3.1% during the second quarter. Private Capital Advisors Inc. now owns 15,520 shares of the biopharmaceutical company’s stock worth $2,016,000 after acquiring an additional 470 shares during the last quarter. 79.85% of the stock is currently 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.

Earnings History and Estimates for Celgene (NASDAQ:CELG)

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