Earnings Preview: Celgene Corporation

Celgene Corporation (CELG) is expected to report Q2 earnings before market open Thursday, July 24, with a conference call scheduled for 9:00 a.m. ET.

Guidance

Analysts are expecting a profit of 35c on revenue of $538.93M. The consensus range for EPS is 31c to 38c with a revenue range of $517.55M to $561.24M, according to First Call. Positive catalysts for this earnings quarter include growing European sales of Thalomid for the treatment of myeloma. The major Risks to Celgene earnings continue to be its dependence on Thalomid and Revlimid, for the majority of its revenue. These drugs are positioned in the competitive blood cancer treatment niche.

Analyst Views

On July 7, Jefferies said it expects Celgene to post strong Q2 results due to continuing strength in Revlimid sales. The firm raised its target on the stock to $81 from $77 and reiterated its Buy rating.