Celgene (CELG) Stock Falls on Mixed Third Quarter Earnings Results
NEW YORK (TheStreet) -- Shares of Celgene (CELG) - Get Report are down by 4.87% to $120.98 on heavy volume in mid-morning trading on Thursday, after the company reported mixed third quarter financial results.
The Summit, NJ-based drug manufacturer reported third quarter earnings of $1.23 per share, topping analysts' $1.22 per share expectations.
However, revenue of $2.33 billion for the period missed consensus $2.39 billion guidance.
The company has reaffirmed its full year fiscal 2015 earnings guidance between $4.75 and $4.85 per share on revenue between $9 billion and $9.5 billion.
Analysts on average are expecting the company to earn $4.82 per share on revenue of $9.28 billion for the year.
Separately, TheStreet Ratings team rates CELGENE CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
We rate CELGENE CORP (CELG) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, reasonable valuation levels, expanding profit margins and solid stock price performance. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
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