NEW YORK (TheStreet) -- Celgene (CELG) - Get Report stock closed lower by 4.98% to $97.21 on heavy trading volume in Thursday's trading session, after the company reported its 2015 fourth quarter financial results before the market open today.
The biopharmaceutical company posted adjusted earnings of $1.18 per share on revenue of $2.56 billion for the quarter.
Earnings missed analysts' expectations for $1.22 per share, but revenue beat estimates for $2.54 billion.
For the fiscal 2016 first quarter, Celgene has forecast for adjusted earnings between $1.27 and $1.30 per share. Analysts anticipate that earnings will be $1.30 per share.
The company's guidance isn't surprising because Celgene is typically bearish in its forecasts, and Wall Street should know that the first quarter will be the softest of the year, RBC contends, Barron's reports.
Additionally, currency foreign exchange rates are likely "to continue to work a little against them," RBC continued.
About 13.82 million shares of the company were traded today, well above Celgene's average trading volume of roughly 6.16 million shares per day.
Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B.
Celgene's strengths such as its robust revenue growth, notable return on equity and expanding profit margins 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
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 article's author.