CELG - Celgene Corporation

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
91.53
-0.23 (-0.25%)
At close: 4:00PM EDT

91.60 +0.07 (0.08%)
After hours: 4:21PM EDT

Stock chart is not supported by your current browser
Previous Close91.76
Open91.70
Bid91.56 x 2200
Ask91.75 x 1800
Day's Range91.50 - 91.98
52 Week Range58.59 - 98.97
Volume3,669,605
Avg. Volume4,852,420
Market Cap64.552B
Beta (3Y Monthly)1.60
PE Ratio (TTM)13.94
EPS (TTM)6.57
Earnings DateJul 24, 2019 - Jul 29, 2019
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est97.38
Trade prices are not sourced from all markets
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  • Celgene (CELG) Stock Sinks As Market Gains: What You Should Know
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    Celgene (CELG) closed at $91.76 in the latest trading session, marking a -0.18% move from the prior day.

  • Gilead to Boost Stake in Galapagos as Part of $5.1 Billion Deal
    Bloombergyesterday

    Gilead to Boost Stake in Galapagos as Part of $5.1 Billion Deal

    (Bloomberg) -- Gilead Sciences Inc. agreed to pay $5.1 billion to raise its stake in biotechnology company Galapagos NV to deepen its research into inflammatory diseases and other disorders, sending the Belgian drugmaker’s stock to an all-time high.The deal is the largest Gilead has executed since new Chief Executive Officer Dan O’Day took the reins in March as he attempts to bolster the San Francisco giant’s drug pipeline. Gilead is in danger of becoming a victim of its own success after launching some of the top drugs of all time, its bestselling hepatitis-C franchise. Sales from those therapies have since declined due to increased competition.Under the agreement, Gilead, which will pay $3.95 billion upfront to Mechelen, Belgium-based Galapagos and invest $1.1 billion to raise its stake to 22% from 12.3%, the companies said in a statement. The investment, at 140.59 euros a share, is 9.7% higher than the Belgian company’s closing price on Friday. Galapagos shares surged as much as 17% on Monday, reaching 149.55 euros a share.“Gilead will significantly expand its pipeline in a smart and financially savvy expanded partnership deal with Galapagos, essentially gaining options on everything in their pipeline without having to acquire the company full out,” Jefferies analysts including Michael J. Yee and Andrew Tsai wrote in a note.As Gilead seeks to fill the growing hole left from its hepatitis drugs, the Galapagos announcement may signal a shift in focus. The smaller biotech has no oncology programs and instead focuses on research into diseases that have to do with inflammation and fibrosis, which is a kind of internal scarring.Gilead has also had research programs in such diseases, including through its collaboration with Galapagos, though some had speculated it may stake its future on cancer. Gilead is already the biggest shareholder of the Belgium company before the increase in stake, according to data compiled by Bloomberg. Now it gets the option to license all of Galapogos’s future, late-stage drug candidates.Gilead CEOO’Day, who joined Gilead from cancer giant Roche AG, said he’s not done making good on his promise to expand the pipeline. He noted the deal almost doubles Gilead’s research capacity and establishes a strong research base in Europe where the company has historically not been as active.“In no way is this the only thing that we’re looking at or the only thing that we’re going to do,” O’Day said in an interview. “You can look at this like it’s the beginning.”Gilead and Galapagos held talks about an expanded partnership prior to O’Day joining the company. He was briefed on those discussions after taking the top job and within the first couple of weeks, got to know the CEO of Galapagos better. Following those talks, the pair decided to being finalizing the agreement.Jobs in EuropeThis is a “science-driven deal,” Onno van de Stolpe, founder and chief executive officer of Galapagos, said in an interview. Gilead will be taking on more of the commercial side for Galapagos, helping the smaller company to focus on research. “We can now do more of what we’re good at.”The money being invested beyond the equity stake will be used largely to double Galapagos’s R&D staff to 1,000 from 500 over an unspecified time, Van de Stolpe said. Those jobs will be added in Belgium, the Netherlands and France. “It’s massive funding -- we don’t have a detailed plan yet on how to spend it,” he said.The pact includes a provision in which Gilead’s stake could rise to 29.9%, if Galapagos shareholders approve two warrants. The companies were already partners on an experimental drug for rheumatoid arthritis. That drug, filgotinib, hit its main goal in a late-stage study in March, triggering the Belgian biotech company’s shares to surge by the most in six months.Galapagos shares have risen 59% since the start of the year, compared with the 5.9% gain in Gilead’s stock.O’Day had a reputation as a dealmaker while at Roche, likely one of the reasons he was selected for Gilead’s top job at a time when the company needs to look externally to drive growth. He said that in this case, the companies opted for a partnership-style deal rather than a full takeover because full mergers can often destroy innovation as research and executive teams disband. Roche’s deal philosophy is much the same with the Swiss giant opting to leave many its units independently managed, even if it owns them in full.Gilead spent about $12 billion to buy Kite Pharma in 2017 for its research into a cutting-edge therapies known as CAR-T. While the treatments can prove near-miraculous for some patients, CAR-Ts have yet to become large sales drivers, falling far below the revenues Gilead needs to replace declining sales from its hepatitis-C franchise.Gilead is not the only large company with fading blockbusters. In June, AbbVie agreed to buy Allergan in a $63 billion megadeal in a bid to replace its bestselling Humira, the bestselling drug in the world. Celgene Corp. faced similar questions as the patent of its bestselling cancer drug aged before Bristol-Myers Squibb agreed to buy it for $74 billion in January.To contact the reporters on this story: Eric Pfanner in London at epfanner1@bloomberg.net;Rebecca Spalding in Boston at rspalding@bloomberg.netTo contact the editors responsible for this story: James Ludden at jludden@bloomberg.net, ;Drew Armstrong at darmstrong17@bloomberg.net, Kevin Miller, Linus ChuaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • 3 Incredibly Cheap Healthcare Stocks
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  • 3 U.S. Stocks to Watch in July
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  • Bristol-Myers (BMY) Down 11.6% YTD: What Lies Ahead in 2H19?
    Zacks5 days ago

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  • 4 Drug Stocks Getting Smashed
    InvestorPlace5 days ago

    4 Drug Stocks Getting Smashed

    U.S. equities were hitting new record highs, with the Dow Jones Industrial Average topping 27,000 for the first time ever while the S&P 500 hits 3,000. The catalyst is an all too familiar one: The promise of more cheap money from the Federal Reserve, with chairman Jerome Powell strongly signaling a rate cut later this month in response to uneven economic data.But the gains are being trimmed in mid-day trading after a strong inflation report suggests the U.S.-China trade spat is starting to have an impact on import prices. And higher inflation would undermine the Fed's desire to lower rates. Stocks, obviously, wouldn't react well to that. * 10 Stocks to Sell for an Economic Slowdown A number of big drug stocks are getting hit amid the pullback on reports the Trump Administration has pulled its plan to eliminate rebates from government drug plans. Had this rule gone through, drug stocks would've been relatively unaffected. Investors now fear the administrations next move to try to lower drug prices. Here are four drug stocks to sell on the news:InvestorPlace - Stock Market News, Stock Advice & Trading Tips Pfizer (PFE) Click to EnlargePfizer (NYSE:PFE) shares are dropping hard out of a four-month uptrend threatening to cut below both its 50-day and 200-day moving averages. This comes after the stock bonked on resistance from its December high and remains mired in a sideways range that has been in play since last summer.The company will next report results on July 30 before the bell. Analysts are looking for earnings of 75 cents per share on revenues of $13.4 billion. When the company last reported on April 30, earnings of 85 cents per share beat estimates by 10 cents on a 1.6% rise in revenues. Eli Lilly (LLY) Click to EnlargeShares of Eli Lilly (NYSE:LLY) are falling down and out of a four month consolidation range, returning to levels not seen since December. This caps a decline of more than 15% from the highs hit in late March. With the 50-day and 200-day moving averages already lost, watch for a drop down to mid-2018 support near $105, which would be worth a loss of another 4% from here. * 3 Forgotten Tech Stocks Worth Remembering The company will next report results on July 30 before the bell. Analysts are looking for earnings of $1.45 per share on revenues of $5.6 billion. When the company last reported on April 30, earnings of $1.33 per share matched expectations on a 2.6% rise in revenues. Merck (MRK) Click to EnlargeMerck (NYSE:MRK) shares are dropping hard and fast away from the two-month consolation range that capped a nice 20% rally off of its 200-day moving average. The stock has gained more than 50% from the lows seen in early 2018 and a ripe for a significant profit taking pullback -- likely resulting in a revisiting of the April lows.The company will next report results on July 30 before the bell. Analysts are looking for earnings of $1.16 per share on revenues of $10.9 billion. When the company last reported on April 30, earnings of $1.22 per share beat estimates by 17 cents on a 7.8% rise in revenues. Bristol-Myers Squibb (BMY) Click to EnlargeShares of Bristol-Myers Squibb (NYSE:BMY) have returned to lows near $44 that have been tested multiple times in a pattern going back to early 2017. The range is rather wide, with prices down more than a third from the highs hit in February 2018. The company is continuing to work with regulators to waylay concerns over its proposed acquisition of Celgene (NASDAQ:CELG). * 10 Best ETFs for 2019: The Race for 1 Intensifies The company will next report results on July 25 before the bell. Analysts are looking for earnings of $1.06 per share on revenues of $6.1 billion. When the company last reported on April 25, earnings of $1.10 beat estimates by two cents on a 14% rise in revenues.As of this writing, William Roth held no positions in the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Sell for an Economic Slowdown * 7 Marijuana Penny Stocks That I May Buy * 7 of The Best Schwab ETFs for Low Fees The post 4 Drug Stocks Getting Smashed appeared first on InvestorPlace.

  • FDA Accepts Sanofi's BLA for Myeloma Candidate to Review
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  • Fred Hutch appoints execs from Amazon and Celgene to board
    American City Business Journals6 days ago

    Fred Hutch appoints execs from Amazon and Celgene to board

    Sean Boyle, chief financial officer for Amazon Web Services, and Corsee Sanders, Ph.D., a strategic adviser to the office of the chief medical officer at Celgene Corporation, joined in June.

  • Megadeals Enter Biotech Realm — And 3 Other Trends To Watch In 2019
    Investor's Business Daily6 days ago

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    Biotech exploded with "megadeals" in the first half of 2019 as pharmaceutical companies Bristol-Myers Squibb and AbbVie announced acquisitions worth a combined $137 billion.

  • Will Patent Woes Boost Pharma Stock Megamergers Further?
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    With key drugs losing exclusivity, key drug makers are poised to face deep trouble since their sales are mostly dependent on a single drug.

  • Celgene (CELG) Outpaces Stock Market Gains: What You Should Know
    Zacks7 days ago

    Celgene (CELG) Outpaces Stock Market Gains: What You Should Know

    In the latest trading session, Celgene (CELG) closed at $93.81, marking a +0.57% move from the previous day.

  • Markit7 days ago

    See what the IHS Markit Score report has to say about Celgene Corp.

    Celgene Corp NASDAQ/NGS:CELGView full report here! Summary * Bearish sentiment is low * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | PositiveShort interest is extremely low for CELG with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting CELG. Money flowETF/Index ownership | NeutralETF activity is neutral. ETFs that hold CELG had net inflows of $3.86 billion over the last one-month. While these are not among the highest inflows of the last year, the rate of inflow is increasing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Healthcare sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to score@ihsmarkit.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.

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  • Why Bristol-Myers Squibb Stock Plunged in the First Half of 2019
    Motley Fool8 days ago

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    Wall Street clearly isn't pleased with Bristol's acquisition of Celgene.

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  • Celgene (CELG) Gains But Lags Market: What You Should Know
    Zacks13 days ago

    Celgene (CELG) Gains But Lags Market: What You Should Know

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  • Why These 4 Biotech Leaders Could Rebound On Strong Earnings
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  • Bloomberg13 days ago

    Biotech Braces for Busy Summer as 2019 M&A Volume Heats Up

    (Bloomberg) -- Investors may be digesting a deal from Bristol-Myers Squibb Co. for Celgene Corp. and getting their teeth into AbbVie Inc.’s bid for Allergan Plc, but there are plenty of other large-cap biotechs and pharma still hungry for action.“Do not sleep on the summer,” Jefferies trading specialist Jared Holz cautioned clients in a note. “Conversations with several banking contacts suggest mergers will not slow down in what are normally seasonally slow months.”Who needs deals? The usual suspects -- large-cap drugmakers with patent cliffs and dwindling pipelines. With the top 20 drugmakers generating over $150 billion a year in free cash flow and facing slowing growth, “there’s high interest from big pharma and big biotech in making acquisitions,” Andy Acker, a lifesciences portfolio manager for Janus Henderson, said in a phone interview.With regards to whether those deals will be mega-mergers or smaller bolt-ons, “anything is possible,” Holz said via phone. Although there aren’t as many targets left as there were six months ago, larger-scale deals are just as likely as smaller ones, he said.He predicts the biggest catalyst for the second half may be a deal that closes before any political changes ahead of the 2020 election. “You want to beat the fundamental shift,” he said.While the number of drug sector deals in 2019 to-date are on pace to match 2018’s total, the volume has exceeded last year’s midpoint thanks to mega-cap deals, according to Bloomberg data.Potential TargetsVertex Pharmaceuticals Inc., Incyte Corp. and Biogen Inc. are seen among the most likely targets for a large deal. Jefferies’ Holz and Cantor Fitzgerald analyst Alethia Young both called Biogen a “wildcard,” as the company could either be a buyer or seller. Other potential acquirers include Eli Lilly & Co., Pfizer Inc., Merck & Co., Sanofi, Novartis AG and Johnson & Johnson, as well as biotechs Gilead Sciences Inc. and Amgen Inc.While large caps launch the bulk of new drugs, more than half of the new medicines approved are developed from small and mid-cap company pipelines, according to Acker. This makes biotech catalysts a key focus for investors looking to own a stock before it gets bought.Still, 90% of new medicines in development never make it to market, Acker cautions, and for those drugs that do win regulatory approval they will still face a commercial risk, especially if they don’t get bought.Jefferies analyst Michael Yee found that the shares of half of all biotechs that didn’t get bought underperformed in the months that followed a new drug launch.Further reading: Slow Start to 2019 M&A Gathers Force With June’s Flood of DealsHighlights from biotech calendars for the second half:Amgen: A court decision or settlement on Amgen’s dispute with Sandoz over patents for its top-selling arthritis drug Enbrel. Analysts predict Amgen shares could move as much as 10%.Amarin Corp.: A Food and Drug Administration decision on Sept. 28 to update the label for the heart pill Vascepa will be “the gatekeeper for M&A,” Roth analyst Yasmeen Rahimi said.AnaptysBio Inc: Investors are waiting for results for etokimab in atopic dermatitis; shares may rise up to 60% on positive results, JPMorgan analyst Anupam Rama predicted last month.Enanta Pharmaceuticals Inc: Initial results from a NASH study expected in the third quarter.Gilead Sciences: Results evaluating NASH combinations expected to readout in the fourth quarter and may determine the biotech’s direction in the liver disease after a recent failure.GlycoMimetics Inc: Results from a study of Pfizer Inc-partnered rivipansel for sickle-cell-related symptoms. Pfizer called out the drug as a potential blockbusterMirati Therapeutics Inc: The stock has been breaking records since results from an Amgen study, viewed as a sign that Mirati’s cancer drug may work even better when the small-cap reveals clinical data.Sage Therapeutics Inc: Results in bipolar disorder patients with major depression will be closely watched by investors.Reata Pharmaceuticals Inc: Data from a study of bardoxolone in patients with Alport syndrome, and another study of omaveloxolone in Friedreich’s ataxia.WaVe Life Sciences Ltd: Two readouts expected for Wave, one in Duchenne muscular dystrophy and another in Huntington’s disease.Vertex: Approval for Vertex’s triple combination pill for cystic fibrosis expected this year, although that could slip into 2020, Young said.\--With assistance from Karen Lin.To contact the reporter on this story: Cristin Flanagan in New York at cflanagan1@bloomberg.netTo contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Morwenna Coniam, Lisa WolfsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Will the Pharma Space Witness More Mega-Merger Deals in 2H?
    Zacks13 days ago

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