From other sites
at MarketWatch.com (Fri, 11:27AM)
at Nasdaq.com (Fri, 11:08AM)
at Nasdaq.com (Fri, 11:06AM)
at Zacks.com (Fri, 10:10AM)
at Zacks.com (Fri, 9:00AM)
Celgene Corporation (CELG): New Analyst Report from Zacks Equity Research - Zacks Equity Research Reportat Zacks.com (Fri, 7:00AM)
at MarketWatch.com (Wed, 2:55PM)
at Nasdaq.com (Wed, 12:26PM)
at Nasdaq.com (Wed, 12:25PM)
at Zacks.com (Wed, 10:10AM)
- My prediction of $100 per share in 2015 was considered extremely bullish just last April.
- At $110 Celgene had a P/E ratio of 58.
- Amgen's Kyprolis place as a multiple myeloma competitor.
- Is the current price bubbly or just a realistic assessment of 2015?
Celgene Shares Could Soon Hit $140 Thanks To Exceptional Earnings Growth
- Celgene has achieved impressive returns over the past several years, thanks in large part to its treatments for multiple myeloma.
- Its key drug, Revlimid, is expected to generate approximately two thirds of the firm's revenue this year.
- Analysts anticipate that Celgene's earnings will grow at more than 25% per year moving forward.
- Despite trading at 30 times projected 2014 earnings, a solid balance sheet and this exceptional earnings forecast translate into a $140 target price, representing 25% upside potential.
- CELG is suitable for the Enterprising Investor following the ModernGraham approach.
- According to the ModernGraham valuation model, the company is overvalued at the present time.
- The market is implying a 19.69% earnings growth over the next 7-10 years, which is well above the company's actual growth in recent years.
Update: Celgene Reports Good Earnings, Remains Attractive
- Celgene reported strong growth: Revenues are up 18.4%, earnings per share are up 41.9%.
- Celgene raised its EPS guidance for 2014, now fitting the estimate I used in my original article.
- I see my original thesis as confirmed: Celgene, which offers great growth, is trading below its intrinsic value.
Celgene Is A Great Stock, But I Can't Manage To Hold Onto It
- The company sports great financial efficiency ratios but I keep wanting to take profits as the market seems embroiled right now.
- I took profits from Visa and placed them into Celgene because I had a great profit in Visa.
- The stock appears fairly valued on 2015 earnings estimates and earnings growth potential and that's why I want to lock in profits on this gain too.
- The U.S. Food and Drug Administration authority approved the expanded use of Celgene's drug Otzela as an oral treatment for patients with moderate-to-severe plaque psoriasis.
- According to analysts' estimates compiled by Bloomberg, Otzela expects to generate $1.03 billion in sales by 2017.
- Celgene is consistently expanding its existing blockbusters labels to fuel the future growth of the company.
- Based on future growth expectations, Celgene seems to be undervalued.
- Today we will take a look at Celgene, one of the "Big Four" of biotech, and Jim Cramer's current favorite large biotech concern.
- The company has one of the deepest pipelines in biotech and has years of stellar growth ahead of it.
- Some of these drugs are highlighted in this article. Why I believe the stock has better than 80% upside over the next three years is highlighted below as well.
Restoring My Growth Portfolio With Restoration Hardware By Closing Out Celgene
- I felt Restoration Hardware was beaten down too much on the back of their recent earnings report and felt it was a good opportunity to buy the stock.
- To make this trade happen I had to sell my position in Celgene which is a great biotech company with great earnings growth expectations.
- After performing the analysis, I want to get back into Celgene at some point in the near future.
- Celgene measures up to the hype as a powerful growth stock story.
- Analysis, coupled with the underlying business narrative, indicates investors may enjoy the probability of asymmetric upside risk versus reward.
- Don't let the current P/E scare you; the shares are not expensive.
- Celgene will continue to benefit from the increasing demand for its key growth driver Revlimid.
- Celgene has good valuation metrics and strong earnings growth prospects; its PEG ratio is very low at 0.94.
- Celgene raised its 2014 outlook.
- Celgene has top-quality pipeline which should sustain long-term growth.
- All oral Otezla ready to take on psoriasis by end of year.
- Oral Otezla won’t entirely displace injected biologics, but safety and convenience should easily push it over the $1 billion mark.
- Early clinical data suggests oral antisense drug GED-0301 could be a Crohn’s disease winner.
- Progression free survival figures could result in Kyprolis/Revlimid/dexamethasone becoming standard of care for advanced multiple myeloma.
- Lack of adverse events alleviates cardiovascular event fears.
- Celgene also stands to gain from increased duration of Revlimid use.
Celgene: Constantly Adding Signature Drugs To Its Healthy Portfolio
- Celgene’s bag of signature drugs continued to drive its top and bottom line growth in the second quarter.
- Growth was primarily contributed by the strong performance of Celgene’s flagship drugs, Revlimid, Pomalyst, Abraxane etc.
- Launched in March, Otezla has paralleled with Humira as the top notch new branded treatment starts for PSA.
- Future revenue growth: introducing Otezla in other markets and researching on four other indications that can be treated by Otezla in order to earn higher revenue from this drug.
- The company has bright future prospects but it only offers return to its investors in the form of capital appreciation and not regular dividend income.
- We pitch two companies from the biotechnology sector, Gilead and Celgene, against one another in the latest installment of our Head-To-Head series.
- The article focuses on the relative strengths and weaknesses of Gilead and Celgene, based on business performance and sustainability/dividends/forecasts.
- It ends with discussion of the current valuations of the two companies, and details whether Gilead represents good relative value at current price levels.
- Celgene has been one of the great growth stocks of our era.
- The company has a bulging pipeline on which it is overtly bullish, and management has earned respect.
- Based on prospective earnings by 2017, the stock is undervalued.
- In addition, CELG could be an attractive takeover target.
Getting Bearish On Celgene The Stock, Not The Company
- Financial efficiency ratios are deteriorating.
- The stock is fairly valued based on 2015 earnings estimates and earnings growth potential.
- The company missed top line estimates, but beat on the bottom line when they reported first-quarter earnings back on 24 Apr '14.
Celgene Asserts More Revlimid Patents, Seeks New Ones To 2031
- Celgene's current suit against Actavis asserting 18 patent awaits Markman decision.
- On the day of the Markman hearing, Celgene filed a new suit against Actavis, asserting 4 more patents.
- Celgene is also already seeking patent protection that could extend the Revlimid franchise to 2031.
- A Markman hearing in Celgene's Revlimid patents case took place Thursday.
- Markman process defines what Celgene's Revlimid patents cover.
- This article reviews the issues addressed at the hearing and provides my expected outcome.
Celgene: Do The Revlimid Polymorph And Use Patents Matter?
- The compound, or composition of matter, patent for Revlimid (US 5,635,517) expires in October 2019.
- Celgene has a polymorph patent for Revlimid (US #7,465,800) that expires in 2027.
- Given the Lipitor (atorvastatin) precedent, the Revlimid polymorph patent, even if upheld, will likely not prevent introduction of generic Revlimid in 2020.
- Two method of use patents (7,189,740 and 7,968,569), which expire in 2023, may become the battle ground for extending exclusivity for Revlimid beyond 2019.
Mon, Jan. 6, 8:33 AM
- Citi is out with its top biotech picks for 2014.
- Making the list are Biogen (BIIB), Gilead (GILD), Celgene (CELG), and Medivation (MDVN).
- On BIIB, Citi ups Tecfidera estimates and lifts the price target on the shares to $338.
- On GILD, new 2014 EPS estimate of $3.84 is above consensus.
- On CELG, Citi sees the possibility that the company could guide above the Street's view.
- On MDVN, Citi is modeling peak Xtandi sales of $6.5B in 2026.
Mon, Jan. 6, 8:08 AM
- Boston Children's Hospital is seeking millions in unpaid royalties from Celgene (CELG), WSJ reports.
- In a lawsuit filed last summer, the hospital claims the company violated a 2002 contract when it ceased paying royalties on Revlimid and Pomalyst — the hospital apparently helped discover their cancer fighting abilities.
- The case is further complicated by the fact that the hospital sold most of its Revlimid rights to an unnamed third party for $130.5M.
- In any event, an unfavorable ruling would likely cost CELG millions, as "court filings [show] Children's [believes] it is owed $3M in unpaid royalties for the first quarter alone."
Dec. 15, 2013, 5:13 PM
- A NY Times feature looks at drug companies' wildly successful and wildly aggressive marketing campaign for A.D.H.D. treatments like Adderall (made by Shire (SHPG)) and Ritalin (made by Novartis (NVS)). Recently, companies have begun targeting adults.
- Recent data show that 15% of high school-age children are now diagnosed with A.D.H.D., and that the number of children taking medication has soared to 3.5M from 600K in 1990. One doctor calls the rising rates of diagnosis "a national disaster of dangerous proportions."
- The FDA has cited every major A.D.H.D. drug - including Adderall, Concerta (JNJ), Focalin (NVS, CELG) and Vyvanse (SHPG) - for false and misleading advertising since 2000, some multiple times.
Dec. 11, 2013, 2:12 PM
- Agios Pharmaceuticals (AGIO -4.4%) and Celgene (CELG -2.2%) extend the exclusivity period tied to a strategic cancer metabolism collaboration agreement (originally struck in 2010) by a year.
- Terms call for CELG to retain its exclusive option on any drug candidates that come out of the AGIO cancer metabolism pipeline until April of 2015.
- CELG is making an upfront payment of $20M to AGIO. (PR)
Dec. 10, 2013, 8:30 AM
- Credit Suisse upgrades Celgene (CELG) to Outperform from Neutral in a move analyst Ravi Mehrotra says "is as much about relative growth as revenue and EPS upgrades."
- Mehrotra sees 2017 total sales and EPS of $13B and $16 (up from $11B and $13.57).
- The new estimates are largely attributable to an increase in the projection for Revlimid sales, which are now seen at $7.6B, up from $6.8B. The more upbeat assessment is due to "lengthening of treatment duration and increasing penetration in the first-line setting."
- CAGR projections from 2013-2017: 19% top-line and 28% bottom-line.
- Price target hiked to $210 from $165.
- CELG +1.3% premarket
Dec. 9, 2013, 8:58 AM
- Celgene (CELG) says results (presented at ASH) from an ad hoc analysis of an MDS subset from two Phase 1/2 studies of oral azacitidine show 11 of 23 patients achieved an OR, while four of 23 achieved CR.
- Other results: 30% achieved hematologic improvement, red-blood cell TI achieved in five of 12 patients, platelet TI achieved in two of five patients.
- Four patients discontinued treatment due to AEs. (PR)
Dec. 6, 2013, 3:16 PM
- Citi is out with some bullish commentary on Celgene (CELG +0.9%).
- Analyst Yaron Werber went out and conducted a "detailed analysis," before ultimately determining that "Revlimid/dex is set to dominate the myeloma market over the long-term."
- Not only does Werber think the "tailwind" for Revlimid/ Pomalyst is "much greater than appreciated," the analyst also says the company's pipeline should "further sustain its dominance" in myeloma.
- Price target hiked to $204 from $182.
- Related from last month: BofA note spooks Amgen
Dec. 6, 2013, 1:35 PM
Dec. 6, 2013, 4:24 AM
- Novartis' (NVS) LBH589 drug for treating relapsed and refractory multiple myeloma, a bone marrow cancer, met its primary goal in a Phase III trial.
- When combined with two other therapies, bortezomib and dexamethasone, LBH589 significantly increased progression-free survival in patients compared with those treatments alone.
- Other companies working on drugs for multiple myeloma include Celgene (CELG) and German firm MorphoSys (MPSYF). (PR)
Dec. 5, 2013, 12:16 PM
- Shares of Celgene (CELG +3.3%) are moving notably higher in morning trading.
- Likely behind the move is UBS, where analyst Matthew Roden has upgraded the stock to Buy from Neutral.
- "We find CELG compares favorably to other names in healthcare and the broader markets on the basis of EPS growth (26% vs 16% HC and 13% S&P500), and operating margin (49% vs 13% and 16% in Q3 2013, and 60% achievable for CELG by 2017)," Roden notes.
- Price target is $200.
Dec. 4, 2013, 8:27 AM
- After nearly doubling on Tuesday, shares of OncoMed Pharmaceuticals (OMED) add another 7% in premarket trading.
- Today's catalyst looks to be Jefferies, where analyst Thomas Wei is out with a $46 target (from $27).
- Wei likes the Celgene (CELG) deal and says it "validates demcizumab and [the] cancer stem cell platform [and] relieves OMED of any near-term financing risk."
- For more on the CELG deal, see here
Dec. 3, 2013, 8:02 AM
- OncoMed Pharmaceuticals (OMED) announces a development and commercialization agreement with Celgene (CELG).
- The deal includes demcizumab and "up to six anti-cancer stem cell product candidates."
- OMED gets $177.25M upfront ($22.25M equity investment).
- OMED also keeps "global co-development and U.S. co-commercialization rights for five of the six anti-CSC product candidates with 50/50 U.S. profit sharing, and royalties to be received in other territories."
- CELG has an exclusive option on demcizumab subsequent to which OMED will "co-develop [the drug and] share global development costs on a 1/3 OMED and 2/3 CELG basis." (PR)
- OMED +60% premarket.
- OncoMed Pharmaceuticals (OMED) announces a development and commercialization agreement with Celgene (CELG).
Nov. 27, 2013, 8:55 AM
- Piper starts Celgene (CELG) at Neutral.
- Repros Therapeutics (RPRX) initiated at Overweight at Piper. Price target is $26.
- Piper starts Gilead (GILD) at Overweight. Price target is $91.
- Incyte (INCY) initiated at Overweight at Piper. Price target is $56.
- Piper starts Insmed (INSM) at Overweight. Price target is $34.
- Piper starts MannKind (MNKD) at Neutral.
- Nektar Therapeutics (NKTR) is initiated at Overweight at Piper. Price target is $20.
- Amgen (AMGN) initiated at Overweight at Piper. Price target is $143.
- Vanda (VNDA) started at Overweight at Piper. Price target is $21.
- Piper initiates Pharmacyclics (PCYC) at Overweight. Price target is $160.
- Piper upgrades Isis Pharmaceuticals (ISIS) to Neutral from Underweight.
- Piper starts Alexion (ALXN) at Overweight. Price target is $172.
Nov. 21, 2013, 3:20 PM
- After opening higher, shares of Amgen (AMGN -2.9%) moved into negative territory this morning and have since traded notably lower on above average volume.
- The weakness looks to be attributable to BofA/ Merrill Lynch. Here's what the firm had to say regarding a meeting with Celgene's (CELG +1.8%) management: "The most notable derivative commentary was around AMGN's Kyprolis. CELG is hearing increasing concerns from big myeloma centers on CV events."
- They continue: CELG "has access to the event rate in ASPIRE and believes the full story has yet to fully play out." While BofA says CELG "was not tossing away Kyprolis" they did seem to suggest that "it could be reserved with Revlimid/Dexamethasone for high risk myeloma." ASPIRE combines Kyrpolis, Revlimid, and Dexamethasone.
- Now, Cowen is apparently out defending AMGN, saying any CELG commentary might have been taken out of context.
- Also down sharply are shares of Ligand Pharmaceuticals (LGND -5.7%) which receives tiered royalties tied to the use of Captisol technology in the drug.
Nov. 13, 2013, 12:33 PM
- The FDA has approved Pharmacyclics' (PCYC) ibrutinib for mantle cell lymphoma.
- The drug is co-marketed with Janssen (JNJ).
- This marks the second drug with Breakthrough Therapy Designation to win approval.
- The drug is "intended for patients who have received at least one prior therapy."
- Also approved for MCL: Celgene's (CELG) Revlimid.
- Full FDA release
Oct. 27, 2013, 2:55 AM
- Celgene's (CELG) twice-a-day pill Apremilast helped bring about notable and lasting reductions in the signs and symptoms of psoriatic arthritis in a late-stage trial of 527 patients who hadn't previously been treated for the disease. Subjects received the drug for a year.
- "To be able to have a patient that can take a pill twice a day, I think this is going to be a game changer, not only for me as a physician, but for my patients," said Alvin Wells, the lead investigator in the trial.
- The FDA is expected to decide whether or not to approve Apremilast in March. If authorized, the drug would compete with injected biotech medicines that are highly effective but whose side effects are potentially more serious.
- Sales of Apremilast are forecast at $475M-1.5B over the next few years, depending on whom you ask.
CELG vs. ETF Alternatives
Other News & PR