Celgene Corporation (CELG) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $1.44 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $1.39. The company posted revenue of $2754.00 million in the period, compared to analysts expectations of $2709.02 million. The company’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 EPS.
Many Wall Street Analysts have commented on Celgene Corporation. Stifel Initiated Celgene Corporation on Jul 15, 2016 to “Buy”, Price Target of the shares are set at $138.
Celgene Corporation opened for trading at $109.91 and hit $112.25 on the upside on Thursday, eventually ending the session at $111.26, with a gain of 2.91% or 3.15 points. The heightened volatility saw the trading volume jump to 83,30,698 shares. Company has a market cap of $86,182 M.
In a different news, on Jun 22, 2016, Robert J Hugin (director officer ) sold 75,000 shares at $100.16 per share price. According to the SEC, on Apr 5, 2016, Gilla Kaplan (director) sold 15,967 shares at $101.84 per share price. On Mar 7, 2016, Michael W Bonney (director) purchased 2,000 shares at $103.01 per share price, according to the Form-4 filing with the securities and exchange commission.
Celgene Corporation (Celgene) together with its subsidiaries is an integrated biopharmaceutical company engaged primarily in the discovery development and commercialization of therapies for the treatment of cancer and inflammatory diseases through gene and protein regulation. The Companys primary commercial stage products include REVLIMID (lenalidomide) ABRAXANE POMALYST/IMNOVID VIDAZA azacitidine for injection (generic version of VIDAZA) THALOMID (sold as THALOMID or Thalidomide Celgene outside the United States) OTEZLA (apremilast) and ISTODAX (romidepsin). Celgene is involved in research in a range of scientific areas designed to deliver therapies targeting areas including intracellular signaling pathways protein homeostasis and epigenetics in cancer and immune cells immunomodulation in cancer and autoimmune diseases and therapeutic application of cell therapies.