First Look at Celgene Corporation (CELG) 2Q15 Results: J.P. Morgan

J.P. Morgan analyst Cory Kasimov weighed in today with a few insights on Celgene Corporation (NASDAQ:CELG), after the company released its second-quarter results this morning. Celgene reported total product sales of $2.25 billion, slightly higher than Kasimov’s $2.19 billion estimate. Non-GAAP EPS of $1.23 were higher than Kasimov’s $1.12 estimate.

Kasimov wrote, “CELG reported solid 2Q results, but recall that preliminary numbers – both a top- and bottom-line beat – were pre-announced in conjunction with the RCPT acquisition last week. The most notable performance, in our view, is the Otezla beat of $90M vs. cons of $84M. Additionally, Abraxane came in below cons ($244M vs. $258M), and we will look for commentary on market dynamics from mgmt. CELG also previously raised FY15 adjusted diluted EPS with the 2Q pre-announcement and reiterated other items of 2015 guidance.”

The analyst maintained a Neutral rating on Celgene stock, while no price target was provided.

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Cory Kasimov has a total average return of 17.8% and a 62.6% success rate. Kasimov is ranked #127 out of 3713 analysts.

Out of the 16 analysts polled by TipRanks, 13 rate Celgene Corporation stock a Buy, while 3 rate the stock a Hold. With a downside potential of 2.6%, the stock’s consensus target price stands at $134.46.


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