CELG: Celgene Corporation Announces 2015 and Long-Term Financial Outlook and Preliminary 2014 Results

(BUSINESS WIRE)– Celgene Corporation (NASDAQ:CELG) provided a business update as well as its preliminary 2014 results and financial outlook for 2015 and beyond at the 33rd Annual J.P. Morgan Healthcare Conference. In 2015, total net product sales are expected to be approximately $9,000 million to $9,500 million, a 22 percent increase year-over-year, based on the mid-point of the range. The negative impact of foreign exchange on net product sales is expected to approach $100 million in 2015 compared to 2014. For the full-year 2015, REVLIMID┬« net sales are expected to be in the range of $5,600 million to $5,700 million. Adjusted diluted earnings per share (EPS) for the full-year 2015 is expected to be in the range of $4.60 to $4.75, a 26 percent increase year-over-year, based on the mid-point of the range. Based on U.S. Generally Accepted Accounting Principles (GAAP), diluted EPS is expected to be in the range of $3.68 to $3.92… Read more

Shares of Celgene Corporation opened today at $115.07 and are currently trading down at $114.675. CELG has a 1-year high of $119.84 and a 1-year low of $66.85. The stock’s 50-day moving average is $113.53 and it’s 200-day moving average is $98.28.

On the ratings front, Celgene Corporation has been the subject of a number of recent research reports. In a report published on January 6, analyst Geoff Meacham from Barclays initiated coverage with a Hold rating on CELG and a price target of $120, which represents a slight upside potential from current levels. Separately, on January 5, J.P. Morgan`s Cory Kasimov reiterated a Hold rating on Celgene Corporation shares and has a price target of $120.

In total, one research analyst has assigned a Hold rating and 10 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $115.07 which is 8.4% above where the stock opened today.

Celgene Corp is a biopharmaceutical company. It is engaged in the discovery, development and commercialization of therapies designed to treat cancer and immune-inflammatory related diseases.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts