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Celgene (CELG -6.4%) dips after missing Q1 estimates on all counts despite solid sales growth...

  • Thursday, April 26, 2012, 1:59 PM ET
    Celgene (CELG -6.4%) dips after missing Q1 estimates on all counts despite solid sales growth and better margins. Net earnings actually jumped 57% Y/Y on strong sales of its flagship blood-cancer treatment Revlimid. Separately, the company says it's entered into a strategic partnership with privately held Epizyme to develop personalized therapies for patients with genetically defined cancers.
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    Based on estimated earnings of $4.80 for the current fiscal year, Celgene is trading at a P/E ratio of 15.2, well below its average of 23 during 2011. In spite of missing both revenues and earnings estimates, the stock turned in a stellar quarter and reaffirmed guidance for 2012. With a modest P/E of 18 the stock could be valued at $86.40 by year end, an upside of 20%.This looks like a buying opportunity to me.
    Disclosure: I am long CELG
    26 Apr 2012, 06:31 PM Reply Like
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