Celgene is scheduled to report 2Q16 earnings July 28 pre-market, with a conference call to follow at 9:00 am ET the same day.

Capital IQ Consensus calls for 2Q16 EPS of $1.39 & revenue growth of 18.9%, compared to 2Q15 EPS of $1.23 on revenue of $2.28 bln.

Celgene is a biopharmaceutical co engaged primarily in the discovery, development, and commercialization of therapies for the treatment of cancer and inflammatory diseases through protein homeostasis, immuno-oncology, epigenetics, immunology, and neuro-inflammation.

  • FY16-FY17 Guidance
  • April 28 FY16 guidance for EPS between $5.60-5.70 on rev between $10.75-11.0 bln, compared to Capital IQ Consensus for EPS of $5.68 on rev of $11.11 bln
  • April 28 FY17 guidance for EPS between $6.75-7.00, co decreased rev guidance to $12.7-13.0 bln (prior $13-14 bln) compared to Capital IQ Consensus for EPS of $7.21 on rev of $13.1 bln
  • Co reaffirmed FY17 guidance & 2020 targets at the UBS Healthcare Conference on May 25:

1Q16 Earnings Recap & Rev Breakdown

Celgene (CELG) reported net product sales of $2.50 bln for the first quarter of 2016. Net product sales grew 21% from the same period in 2015, including a 2% negative impact from currency exchange effects. First quarter total revenue increased 21% to $2.52 bln compared to $2.08 bln in the first quarter of 2015. For the same period, adj diluted EPS increased 23% to $1.32 from $1.07.

Technical Analysis

Technically, CELG has been in a choppy range for the first half of 2016 between the $95 and $110 zone. Currently being held to its 200-day moving averages around the $108/106 zone. Clearing $110 should break its longer-term downtrend line. Sellers will look for a chance to take price back below the $100-mark to re-test the lows of the range.

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