Over the past two years, shares of Celgene ( CELG) have gained a stunning 275%. Due to the stock's remarkable performance, Celgene is a favorite among investors and analysts. Thirteen analysts recommend buying the stock vs. six with hold recommendations. Considering that earnings and guidance are already in the public's hands, Celgene will likely look to flaunt something to generate interest and keep momentum going when the company reports fourth-quarter and full-year 2006 results before the market opens Thursday. On Jan. 8, the company preannounced 2006 revenue of $890 million and earnings per share of roughly 57 cents. At the time, the Thomson/First Call consensus estimate was $897 million in sales and a profit of 53 cents a share. Celgene also issued guidance for 2007 that was a tad disappointing. Projected sales of $1.3 billion and EPS of $1 were slightly below the $1.38 billion and $1.09 consensus estimate of the Street.
Can It Pull Something Out of the Hat?
No significant trial data are expected to be revealed in the report or during the call. Celgene's next major data release is likely to be at the American Society of Clinical Oncology annual meeting in early June, when the company presents results for Revlimid in newly diagnosed cases of multiple myeloma. My bet is that management will look to celebrate Revlimid's projected success and shoot down concerns over Barr Pharmaceuticals' ( BRL) recent FDA filing seeking an abbreviated new drug application for a generic version of Thalomid.