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 suffered a series of setbacks over the last few months. The company suffered a setback when a late stage study on its lead cancer drug Revlimid in combination with Rituxan failed. The threat of generic competition is also looming large on Revlimid forcing Celgene to look for acquisitions. The company recently acquired Juno Therapeutics.
Celgene has an excellent track record with the company beating earnings estimates in the last four trailing quarters. Last quarter, the company topped estimates by 2.9%. Overall, the company has delivered an average positive surprise of 2.38%.
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 2018 earnings. The company reported adjusted EPS of $2.29 while our consensus called for EPS of $2.24.
Revenues: Revenue too beat expectations. Celgene posted revenues of $3.89 billion, beating our consensus estimate of $3.83 billion.
Key Stats: Revlimid continued with its strong performance. Otezla too posted good revenue growth. Sales of Pomalyst also increased.
2018 Outlook: Celgene now anticipates earnings per share of $8.75-$8.80 in 2018, up from the earlier estimate of $8.70-$8.75. The current Zacks Consensus Estimate for earnings is $8.79 per share. Net revenues are now projected at $15.2 billion, compared to the Zacks Consensus Estimate of $15.1 billion.
Pre-Market Trading: Shares are up 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 Sales & 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 suffered a series of setbacks over the last few months. The company suffered a setback when a late stage study on its lead cancer drug Revlimid in combination with Rituxan failed. The threat of generic competition is also looming large on Revlimid forcing Celgene to look for acquisitions. The company recently acquired Juno Therapeutics.
Celgene has an excellent track record with the company beating earnings estimates in the last four trailing quarters. Last quarter, the company topped estimates by 2.9%. Overall, the company has delivered an average positive surprise of 2.38%.
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 2018 earnings. The company reported adjusted EPS of $2.29 while our consensus called for EPS of $2.24.
Revenues: Revenue too beat expectations. Celgene posted revenues of $3.89 billion, beating our consensus estimate of $3.83 billion.
Celgene Corporation Price, Consensus and EPS Surprise
Celgene Corporation Price, Consensus and EPS Surprise | Celgene Corporation Quote
Key Stats: Revlimid continued with its strong performance. Otezla too posted good revenue growth. Sales of Pomalyst also increased.
2018 Outlook: Celgene now anticipates earnings per share of $8.75-$8.80 in 2018, up from the earlier estimate of $8.70-$8.75. The current Zacks Consensus Estimate for earnings is $8.79 per share. Net revenues are now projected at $15.2 billion, compared to the Zacks Consensus Estimate of $15.1 billion.
Pre-Market Trading: Shares are up in pre-market trading.
Check back later for our full write up on this CELG earnings report later!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>