This global biopharmaceutical company, discovers, develops and commercializes therapies to treat cancer and immune-inflammatory related diseases. The company has recently recommended a 2-for-1 stock split to its board.
Celgene (CELG)
from Nate’s Notes
Given the tremendous run the stock had in 2013, it was not at all surprising to see Celgene’s (CELG) stock trade down pretty sharply along with the market, as January came to a close. However, the company is continuing to fire on all cylinders, and while a drop below $142 will force me to reconsider my assessment, I continue to believe the long-term uptrend is still nicely intact.
For the company’s fourth quarter, Celgene reported revenues of just under $1.8 billion and net income of $214.4 million, or $0.50 per share, as compared to revenues of just under $1.5 billion and net income of $263.1 million, or $0.61 per share, in the same period a year ago.
For conservative investors, CELG is a strong buy under $150 and a buy under $170.
Nate Pile, Nate’s Notes, www.NotWallStreet.com, 707-433-7903, February 7, 2014