Earnings Preview: Celgene

Celgene (CELG) is expected to report Q3 earnings Thursday, October 22 before market open, with a conference call scheduled for 9:00 am ET.

Guidance

Analysts are looking for EPS of 54c on revenue of $671.89M. The consensus range is 52c-59c for EPS, and $656M-$691M for revenue, according to First Call. Positive catalysts for Celgene may come from Revlimid sales as the company further expands global marketing of the drug. Possible headwind for Celgene in Q3 may have come from the global recession and possible competition from Velcade (TKPHF) in the treatment in multiple melanoma. on September 22 at an industry conference the company CFO said, "We have more things in the pipeline than we know what to do with".

Analyst Views

On September 21, Baird upgraded Celgene to Outperform from Neutral citing near-term upside to Revlimid estimates and valuation. The firm raised its target on Celgene shares to $65 from $57.