This page is temporarily not available. Please check later as it should be available shortly. If you have any questions, please email customer support at email@example.com or call 800-767-3771 ext. 9339.
Celgene Corp is an integrated biotech company that specializes in developing and commercializing various cancer and immune-inflamatory products. The company was founded in 1980 and has a market cap of $30 billion.
Celgene has been on a tear for the last two months, gaining more than 25% as shares continue to rebound from an August low. The momentum also came ahead of record Q3 results from October 27 that came in ahead of expectations.
Revenue for the period was up 38% from last year to $1.22 billion. Earnings also came in strong at 81 cents, a sharp increase from last year's 60 cents.
The good quarter was driven by REVLIMID, the company's bone marrow and blood cell drug, with sales up 28% from last year to $820 million on market share gains and higher treatment duration.
We haven't seen any movement in estimates yet as the analysts continue to update their models, but as it stands, the current-year estimate is projecting 33% growth while the next-year estimate is calling for an 18% increase in earnings.
But in spite of the gains, the valuation picture still looks solid, with a PEG ratio of 1.11 only slightly above the benchmark of 1 for value.
On the chart, shares have rebounded sharply from the short-term low from August, hitting a new multi-year high in the process. Take a look below.
This Week's Momentum Zacks Rank Buy Stocks
Tractor Supply Co (TSCO) recently spiked into a new all-time high after reporting awesome Q3 results that included a 12% earnings surprise. With estimates on the rise and a bullish growth projection, this Zacks #1 Rank stock offers momentum from the Heartland. Read Full Article.
Select Comfort Corp. (SCSS) just surged into a new multi-year high after reporting strong Q2 results that included a 15% earnings surprise. With estimates on the rise and a bullish growth projection, this Zacks #1 Rank stock has plenty of momentum. Read Full Article.
Tempur Pedic International, Inc. (TPX) has rallied in a big way in October, gaining more than 50% after jumping from $46 to $70. The company's recent earnings surprise and a bullish growth projection should continue to provide momentum for this Zacks #1 Rank stock. Read Full Article.
Manhattan Associates, Inc. (MANH) just spiked into a new all-time high after reporting another great quarter that came in ahead of expectations. With an average earnings surprise of 26% over the last four quarters, this Zacks #1 Rank stock is a great pick for momentum out of the technology sector. Read Full Article.
Michael Vodicka is the Momentum Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Whisper Trader Service.
Please login to Zacks.com or register to post a comment.