Celgene (CELG) is expected to report Q2 earnings Thursday, July 29 before the market open, with a conference call scheduled for 9 am ET.
Analysts are looking for EPS of 66c on revenue of $820.4M. The consensus range is 64c-70c for EPS, and $781.5M-$841M for revenue, according to First Call. Possible positives for Celgene's Q2 results should come from Revlimid and Vidaza sales. Vidaza was recently approved in Europe. Negative factors that may effect this quarter include slower Revlimid sales and the fallout from health care reform.
On July 1, Oppenheimer said Celgene appears to be significantly undervalued following the Abraxis acquisition. On July 12, Morgan Joseph upgraded Celgene to Buy from Hold based on valuation and anticipated strong Revlimid sales. The firm has a $66 target on shares.