Revenue Approximations Analysis: Celgene Corporation (CELG), Altria Group, Inc. (MO)

The company's new long term guidance outweighed its better than expected third-quarter earnings results.

Celgene said sales of its blockbuster Revlimid rose 10 percent to $2.08 billion in the third quarter ended September 30.

At the moment 31 analysts are watching Celgene Corporation (NASDAQ:CELG), 14 rate it "Buy", 9 "Outperform", 6 "Underperform", 2 "Sell", while 0 "Hold".

PomaLyst/Imnovid sales for the quarter were $417 million, an increase of 22%. Leerink Swann analyst G. Porges now expects that the firm will post earnings of $1.30 per share for the quarter, down from their prior estimate of $1.32. Shares sank to a new 52-week low. State Street Corp is the second biggest holder with 32 million shares now valued at 4.21 B million whilst BlackRock Fund Advisors has 18 million shares valued at 2.62 B million.

Shares are down more than 16% ahead of the opening bell. These holdings make up 81.67% of the company's outstanding shares. The biggest holder now is Robert J. Hugin who owns 998,086 shares (0.13% of those outstanding), whilst John W. Jackson holds 958,991 (0.12% of shares outstanding) and Dr. Sol J. Barer, PhD holds 692,192 (0.09% of shares outstanding). Morgan Stanley downgraded shares of Celgene Corporation from an "equal weight" rating to an "underweight" rating and set a $120.00 price objective on the a research report on Thursday, October 5th. The firm's 50-day moving average price is $107.29 and its 200 day moving average price is $105.50. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The original version of this report can be accessed at The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Analysts' estimates typically exclude special items. State Street Corp lifted its position in Celgene Corporation by 2.3% during the 1st quarter. The stock has a market capitalization of $80.67 billion, a price-to-earnings ratio of 43.99 and a beta of 1.49. Following the completion of the sale, the insider now owns 1,022,201 shares of the company's stock, valued at approximately $112,442,110. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company's stock worth $7,366,919,000 after acquiring an additional 3,084,227 shares during the period. Celgene also lowered its 2020 earnings-per-share guidance to more than $12.50 from more than $13.00. Also, Director Ernest Mario sold 18,506 shares of the business's stock in a transaction on Thursday, August 10th. The disclosure for this sale can be found here. The Company, together with its subsidiaries, is engaged in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.

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