Celgene Corporation Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Celgene Corporation (NASDAQ:CELG) will unveil its latest earnings on Thursday, July 28, 2011. Celgene Corporation is a biopharmaceutical company which 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 77 cents per share, a rise of 28.3% 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 75 cents. Between one and three months ago, the average estimate moved up, and has risen from 76 cents during the last month. For the year, analysts are projecting net income of $3.09 per share, a rise of 26.6% from last year.

Past Earnings Performance: The company is looking to break the streak of missing estimates in the past two quarters. Last quarter, it fell short of analyst expectations by reporting profit of 71 cents per share against an estimate of net income of 73 cents per share. The quarter before that, it missed forecasts by 2 cents.

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Wall St. Revenue Expectations: On average, analysts predict $1.12 billion in revenue this quarter, a rise of 31.7% from the year ago quarter. Analysts are forecasting total revenue of $4.53 billion for the year, a rise of 25.1% from last year’s revenue of $3.62 billion.

Analyst Ratings: Analysts are bullish on this stock with 25 analysts rating it as a buy, one rating it as a sell and eight rating it as a hold.

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 37.4%, with the biggest boost coming in the most recent quarter when revenue rose 42.2% from the year earlier quarter.

The increase in profit in the first quarter comes after net income fell in the previous quarter. In the first quarter, net income rose 9% to $255.6 million. In the fourth quarter of the last fiscal year, net income fell 17.6%.

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 May 25, 2011 to July 22, 2011, the stock price had risen $2.39 (4.1%) from $58.79 to $61.18. The stock price saw one of its best stretches over the last year between September 16, 2010 and September 24, 2010 when shares rose for seven-straight days, rising 6.6% (+$3.63) over that span. It saw one of its worst periods between August 12, 2010 and August 24, 2010 when shares fell for nine-straight days, falling 9% (-$5.02) over that span. Shares are up $2.04 (+3.4%) year to date.

(Source: Xignite Financials)

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