Celgene Corp.

Celgene Corp.

02 February 2016

Important legal information


In the last week of January 2016 Celgene Corp. announced its fourth-quarter earnings. The net product sales rose by 24 percent from USD 2.06 billion to USD 2.56 billion. Also the company’s income rose by 14 percent up to USD 961 million. As a consequence the EPS could grow by 17 percent up to USD 1.18, compared to the previous year.

Nevertheless market’s and investor’s reaction were predictable because of previous estimates. Besides the net product sales, which are in line with market expectations, the EPS fell USD 0.04 short of estimates. Furthermore Wall Street analysts discuss the fact of increased expenses in the research and development sector. In comparison to the previous year, fourth-quarter expenses jumped from USD 478 million up to USD 649 million, according to company’s statement.

However, Piper Jaffray an American investment bank, expects a profit growth of 20 till 25 percent in the long-run. Wall Street analysts seem to concentrate more on punctual market conditions and short-term data, what could have an underestimate as a result. For the coming years Celgene’s portfolio is built on three blockbuster-products: Revlimid, Abraxane and Otezla. Until 2020 more than USD 14 billion could be generated with these three products, according to company’s data. Several partnerships were forged with more than 30 companies to participate in first-class product development. Because Celgene is working on a long-term company strategy, short-run evaluations could not figure the company’s market position completely.

Bloomberg consensus is optimistic and set the 12-month target price to USD 140,52. Currently, 20 analysts set Ericsson on BUY, 3 on HOLD and 1 on SELL recommendation, which correspond to an aggregated BUY rating.

 

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13/05/2021 14:14:43