Summit, NJ based Celgene Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of drugs targeting cancer and inflammatory diseases. Celgene’s key growth driver is Revlimid. The company's portfolio also includes Pomalyst/Imnovid, Abraxane, Otezla, Istodax, Vidaza and Thalomid/Thalidomide.
However, Celgene is facing generic competition for Vidaza. In this scenario, investor focus remains on the performance of Revlimid as well as recently launched Otezla apart from the usual top-and bottom-line numbers. Meanwhile, Celgene has been striking prudent acquisitions and inking strategic deals to bolster its pipeline. The company is also working on label expansion of its approved drugs.
Celgene’s track record has been decent with the company beating earnings estimates on three occasions over the trailing four quarters. Overall, the company has delivered an average positive earnings surprise of 4.10%.
CELGENE CORP Price
Currently, Celgene has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Celgene beat on third-quarter 2016 earnings. The company reported EPS of $1.39 (including share-based compensation expense and tax adjustments) while our consensus called for EPS of $1.31.
Revenues: Revenues also came in above expectations. Celgene posted revenues of $2.98 billion, compared to our consensus estimate of $2.85 billion.
2016 Outlook Updated: Celgene updated its outlook for 2016. The company now anticipates earnings in the range of $5.88–$5.92 per share (old guidance: $5.70–$5.75 per share). The Zacks Consensus Estimate for earnings is $5.10 per share.
While net product sales are now expected to be approximately $11.2 billion (old guidance: approximately $11 billion), Revlimid sales are anticipated to be approximately $7 billion (old guidance: approximately $6.8 billion).
Pre-Market Trading: Shares were up around 3% in pre-market trading.
Check back later for our full write up on this CELG earnings report later!
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Celgene (CELG) Tops Q3 Earnings and Revenue Estimates
Summit, NJ based Celgene Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of drugs targeting cancer and inflammatory diseases. Celgene’s key growth driver is Revlimid. The company's portfolio also includes Pomalyst/Imnovid, Abraxane, Otezla, Istodax, Vidaza and Thalomid/Thalidomide.
However, Celgene is facing generic competition for Vidaza. In this scenario, investor focus remains on the performance of Revlimid as well as recently launched Otezla apart from the usual top-and bottom-line numbers. Meanwhile, Celgene has been striking prudent acquisitions and inking strategic deals to bolster its pipeline. The company is also working on label expansion of its approved drugs.
Celgene’s track record has been decent with the company beating earnings estimates on three occasions over the trailing four quarters. Overall, the company has delivered an average positive earnings surprise of 4.10%.
CELGENE CORP Price
CELGENE CORP Price | CELGENE CORP Quote
Currently, Celgene has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Celgene beat on third-quarter 2016 earnings. The company reported EPS of $1.39 (including share-based compensation expense and tax adjustments) while our consensus called for EPS of $1.31.
Revenues: Revenues also came in above expectations. Celgene posted revenues of $2.98 billion, compared to our consensus estimate of $2.85 billion.
2016 Outlook Updated: Celgene updated its outlook for 2016. The company now anticipates earnings in the range of $5.88–$5.92 per share (old guidance: $5.70–$5.75 per share). The Zacks Consensus Estimate for earnings is $5.10 per share.
While net product sales are now expected to be approximately $11.2 billion (old guidance: approximately $11 billion), Revlimid sales are anticipated to be approximately $7 billion (old guidance: approximately $6.8 billion).
Pre-Market Trading: Shares were up around 3% in pre-market trading.
Check back later for our full write up on this CELG earnings report later!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>