Celgene Corp. (CELG) - Bull of the Day

By Zacks Equity Research,

Shutterstock photo

We are maintaining our Outperform recommendation on Celgene Corp. ( CELG ) following impressive preliminary results disclosed for the fourth quarter (adjusted EPS up 46%) and full year 2011 (adjusted EPS up 36%). Preliminary adjusted revenues in the final quarter of 2011 came in at $1.28 billion, 22% above the year-ago figure. For 2011, sales came in at $4.8 billion, up 34%.

The company also gave a bright outlook for 2012 with adjusted earnings expected to improve by 25%. We believe that Celgene, driven by its oncology portfolio and robust pipeline, should easily achieve the 2012 guidance. We believe that the current price represents an attractive entry point for long-term investors.

Based on 2012 P/E estimates, the stock is trading at 17.4x earnings, compared to the industry average of 28.1. Our target price of $87.00 per share is based on 20.8x our 2012 EPS estimate of $4.18.
CELGENE CORP ( CELG ): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Investing Ideas , Stocks
Referenced Stocks: CELG

More from Zacks.com




Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by BankRate.com