NEW YORK (TheStreet) -- Shares of Celgene (CELG) - Get Report were rising in early afternoon trading on Wednesday as the company prepares to report 2016 third quarter results before Thursday's market open.

Analysts surveyed by FactSet are looking for Celgene to post adjusted earnings of $1.48 per share on revenue of $2.83 billion.

In the same period last year, the Summit, NJ-based biopharmaceutical company reported adjusted earnings of $1.23 per share on revenue of $2.33 billion.

BMO Capital Markets said recently that it expects mixed third quarter results from mid to large-cap biotechnology companies, but the firm added that "this is largely priced in following the recent sell-off."

For Celgene, the firm expects that investors will shift their attention "back to fundamentals" after the company reported upbeat data last month from an early-phase clinical trial of its gastrointestinal drug, mongersen.

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The firm has a "buy" rating and $141 price target on Celgene shares.

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings rated this stock as a "buy" with a ratings score of B.

The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income, good cash flow from operations, expanding profit margins and growth in earnings per share. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.

You can view the full analysis from the report here: CELG

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