Celgene Kicking Butt
Patting self on back. It feels good when a call is confirmed (especially when 2 other ideas/trades are dumping). Today, Celgene announced their second quarter results. Numbers were very good.
Celgene has traded up more than 13% in the pre-market. This comes after a very nice run in the shares. We were touting CELG as a great buy on 4/15/09 @ $38.70/share. I added a bit on 4/23/09 @ $39.37. It is trading at more than $53 in the pre-market.
7:33AM Celgene reports EPS in-line, beats on revs () 47.19 : Reports Q2 (Jun) earnings of $0.46 per share, in-line with the First Call consensus of $0.46; revenues rose 10.0% year/year to $628.7 mln vs the $620.9 mln consensus. REVLIMID Net Product Sales Increased 22% to $397 Million; VIDAZA Net Product Sales Increased 54% to $92 Million; THALOMID Net Product Sales Totaled $105 Million.
We have been touting Celgene since day 1 at BobandScott.com. You will find mentions in many of our podcasts and we are both long term holders of the shares. This is a company that is operating well. They have drugs in the pipeline, but the key to this companies growth has been the approval their current drugs in other markets and for use in other applications.
Celgene is a strong performer that I would, and have, recommend for most portfolios. As I mentioned earlier in the week, CELG,MTB,GLW make the start of a very nice portfolio.
- Love Celgene, M&T and Corning (7/20/09)
- Celgene is a Bargain (4/15/09)
- Celgene is Buying Celgene (4/27/09)
- Bought Celgene Not a Trade/ (4/24/09)
Celgene - CELG
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