Celgene (CELG) Q4 Earnings In Line with Estimates, Shares Up - Tale of the Tape
Celgene Corporation (CELG) a leading biopharmaceutical company engaged in the discovery, development and commercialization of drugs targeting cancer and immune/inflammatory diseases. The Summit, NJ based company is well known for Revlimid and oncology products like Vidaza, Istodax, Abraxane, Pomalyst and Thalomid.
However, like many of its peers, Celgene is facing generic competition for several of the important products including Vidaza.
In this scenario, investor focus remains on the performance of key products like Revlimid as well as recently approved products like Otezla. Celgene is also looking to expand Revlimid’s label.
Celgene has a pretty good earnings track record with the company delivering positive earnings surprises in three of the last four quarters with an average surprise of 2.79%.
Currently, Celgene has a Zacks Rank #1 (Strong Buy), 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 earnings were in line with expectations. Our consensus called for EPS of 88 cents and the company reported EPS of 88 cents (including stock-based compensation expenses).
Revenue: Revenues were also in line. Celgene posted revenues of $2.1 billion, which is in line with our consensus estimate.
Key Stats: Celgene revenues were driven by impressive Revlimid sales. Celgene expects adjusted earnings per share (excluding stock-based compensation) in the range of $4.60 to $4.75 per share in 2015. The Zacks Consensus Estimate for 2015 is $5.05 per share.
Stock Price: Shares are slightly up (1.1%) in pre-market trading following the release.
Check back later for our full write up on this Celgene earnings report later!
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