Celgene Corp Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Celgene Corporation (NASDAQ:CELG) will unveil its latest earnings on Thursday, October 27, 2011. Celgene is a biopharmaceutical company that develops innovative therapies to treat cancer and immune-inflammatory related diseases.

Celgene Corporation Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 86 cents per share, a rise of 32.3% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 78 cents. Between one and three months ago, the average estimate moved up. It has risen from 85 cents during the last month. Analysts are projecting profit to rise by 33.2% versus last year to $3.25.

Past Earnings Performance: Last quarter, the company topped expectations by one cent, coming in at net income of 78 cents per share versus a mean estimate of profit of 77 cents per share. This followed two straight quarters of missing estimates.

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Wall St. Revenue Expectations: On average, analysts predict $1.2 billion in revenue this quarter, a rise of 32.1% from the year ago quarter. Analysts are forecasting total revenue of $4.71 billion for the year, a rise of 30.1% from last year’s revenue of $3.62 billion.

Analyst Ratings: Analysts are bullish on this stock with 24 analysts rating it as a buy, one rating it as a sell and five rating it as a hold.

A Look Back: In the second quarter, profit rose 79.8% to $279.4 million (59 cents a share) from $155.4 million (33 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 38.8% to $1.18 billion from $852.7 million.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 38.2%, with the biggest boost coming in the first quarter when revenue rose 42.2% from the year earlier quarter.

The company has now been profitable for the last eight quarters, and for the last four, profit has risen year over year by an average of 25.2%. The quarter with the biggest boost was the most recent quarter, which saw a 79.8% surge.

Competitors to Watch: Novartis AG (NYSE:NVS), SuperGen, Inc. (NASDAQ:SUPG), Pfizer Inc. (NYSE:PFE), GlaxoSmithKline plc (NYSE:GSK), Bristol Myers Squibb Co. (NYSE:BMY), Genzyme Corporation (NASDAQ:GENZ), Cell Therapeutics, Inc. (NASDAQ:CTIC), Merck & Co., Inc. (NYSE:MRK), Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI), and Sanofi-Aventis SA (NYSE:SNY).

Stock Price Performance: During August 25, 2011 to October 21, 2011, the stock price had risen $10.57 (18.8%) from $56.36 to $66.93. The stock price saw one of its best stretches over the last year between August 10, 2011 and August 17, 2011 when shares rose for six-straight days, rising 8.6% (+$4.48) over that span. It saw one of its worst periods between November 2, 2010 and November 9, 2010 when shares fell for six-straight days, falling 3.6% (-$2.26) over that span. Shares are up $7.79 (+13.2%) year to date.

(Source: Xignite Financials)

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