Brean Capital Starts Celgene (CELG) at Buy
Tweet Send to a FriendGet Alerts CELG Hot Sheet
Price: $123.64 +0.16%
Rating Summary:
19 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
19 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade CELG Now!
Brean Capital initiates coverage on Celgene (NASDAQ: CELG) with a Buy. PT $100.00.
The firm comments, "Our 18x price-to-earnings multiple is at the high end of the large-cap biotech group (13-20x), but appropriately reflects the 18% CAGR in EPS that we forecast between 2012 and 2015, driven by top-line growth from three new product launches over the next 12 months that we forecast could add $3-5B in peak sales within the next 3-5 years. CELG has offered long-term guidance of achieving $8-9B in peak revenue by 2015, and our conservative estimates suggest the company will easily meet the low end of that guidance."
For an analyst ratings summary and ratings history on Celgene click here. For more ratings news on Celgene click here.
Shares of Celgene closed at $77.12 yesterday, with a 52 week range of $58.53-$81.24.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The firm comments, "Our 18x price-to-earnings multiple is at the high end of the large-cap biotech group (13-20x), but appropriately reflects the 18% CAGR in EPS that we forecast between 2012 and 2015, driven by top-line growth from three new product launches over the next 12 months that we forecast could add $3-5B in peak sales within the next 3-5 years. CELG has offered long-term guidance of achieving $8-9B in peak revenue by 2015, and our conservative estimates suggest the company will easily meet the low end of that guidance."
For an analyst ratings summary and ratings history on Celgene click here. For more ratings news on Celgene click here.
Shares of Celgene closed at $77.12 yesterday, with a 52 week range of $58.53-$81.24.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Celgene (CELG) Granted FDA Priority Review for ABRAXANE sNDA in Advanced Pancreatic Cancer
- NetApp (NTAP) Tops Q4 EPS by 1c; Boosts Buyback, Plans Job Cuts, Initiates Dividend
- UPDATE: Intuit, Inc. (INTU) Tops Q3 EPS by 4c, Offers Guidance
Create E-mail Alert Related Categories
New CoverageRelated Entities
Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
