Celgene Corporation (NASDAQ:CELG) announced today its 2017 GAAP earnings per share of $5.85–$6.21. The company has expressed its expectations of revenues of $13.0 billion – $13.4 billion, which would translate into a YoY (year-over-year) growth of around 18.0%.
There is also an estimation of 2017 non-GAAP adjusted diluted EPS of $7.10–$7.25. Nonetheless, all these projections are not taking into consideration any losses or impairments that may occur in the future. In fact, Wall Street analysts are tagging ~$13.2 billion as Celgene’s revenue for 2017.
Obtaining these projections will be a significant milestone for Celgene Corporation (NASDAQ:CELG) because it will be in line with its revenue guidance. On the other hand, it will also gain a positive impact on its stock.
Celgene Is Confident It Will Achieve Its Long-Term Financial Targets
The mere mention of the likes of Amgen, Inc. (NASDAQ:AMGN) and Gilead Sciences, Inc.(NASDAQ:GILD) all of whom are in the same market with Celgene explains the back to back to competition between them. The three are targeting $23.4 billion, $12.0 billion, and $28.2 billion, respectively in revenue earnings. However, Celgene seems unmoved and it has expressed confidence in getting hold of its long-term financial targets. In fact, it is eyeing more than $21.0 billion of revenue in 2020 with an adjusted diluted EPS of more than $13.
The company’s CEO Mark Alles noted, “In 2016, we made exceptional progress strengthening and growing our franchises while accelerating and adding to our robust pipeline; our significant business momentum supports raising our 2017 guidance.”
Celgene’s Suggestions For Expansion
The drug maker is focusing on a comprehensive strategy in reference to its expansion. It is targeting the various patient segments with unmet demands, which is likely to result in domination of multiple myeloma spaces in 2017. To embrace this fully, Celgene has been carrying out researches on various technologies the likes of next-generation CELMoD agents and next-generation epigenetic agents.
Apart from multiple myeloma and lymphoma, there is also the myeloid disorders the likes of myelodysplastic syndromes (or MDS), which presents future growth opportunities. It is also awaiting an approval of its Revlimid, a maintenance therapy for NDMM patients from FDA.
Over and above all these Celgene Corporation (NASDAQ:CELG) has obtained various collaborations and acquisitions that will enable the building of its BCMA drug portfolio. Meanwhile, Celgene’s closed at $112.45 witnessing an increase of $0.14 or 0.12%.
Note: This article is written by Adam Russell and originally published at Market Exclusive.