AGN CEO gave the firm away for no guaranteed premium at all. There should be a ton of lawsuits to follow, not that they will be helpful.
Wall Street proves once again that its NEVER about the shareholders - its really about rich execs getting richer. TERRIBLE deal for AGN shareholders.
CELG 2017 estimate is now $7.31/share = P/E of 14.7 based on todays closing price near $107.50. That 2017 estimate may might end up being too high (or low), but even if you discount to $6.80/share, that's a forward PE of 15.8.
CELG is worth buying and putting away at these levels. It should outperform the major indices going forward ASSUMING these estimates are realistic (and the pipeline does indeed yield some goodies). No guarantees in life, but its a nice long-term "gamble".
Not an apples to apples comparison. The street discounts GILD PPS due to peak earnings in the next year or two (or so their models say) as GILD offers a CURE for Hep C. I think GILD is way undervalued as well, but everybody is waiting on GILD to make a big, splashy acquisition.....and GILD might never do so (or really need to). CELG earnings growth is forecasted for many years due to strong pipeline.
Right now, that's the biggest difference between GILD and CELG.
So despite the globs of free CF and solid mgmt history, no credit is given for GILD's ability to use those funds to execute future strategic acquisitions? P/E of 9 would indicate that GILD mgmt is really just a bunch of monkeys that got "lucky".
Sometimes the Street does get it wrong.