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Celgene Corporation stock price
Celgene Corporation latest news:
Juno and Boeing climb while Goldman Sachs and GE drop
Stocks that moved substantially or traded heavily Wednesday: Juno Therapeutics Inc., up $23.65 to $69.25 The Wall Street Journal reported that biotech drugmaker Celgene may buy the cancer therapy company.
Celgene in talks to buy Juno Therapeutics - WSJ
Celgene Corp(CELG) is in talks to buy Juno Therapeutics Inc (JUNO), the Wall Street Journal reported, citing sources familiar with the matter. Shares of Juno, which has a market value of $5.57 billion, were up 36 percent at $62.50 in extended trading on Tuesday.
Celgene in talks to buy Juno Therapeutics: report
Celgene Corp. is in talks to buy Juno Therapeutics Inc. , according to a report on The Wall Street Journal Tuesday that cited unnamed sources. Juno is a biotech company developing cancer treatments. Juno stock soared more than 30% in late trading Tuesday and ended the regular trading day down 6.5%. Celgene shares rose 1% and closed the regular session down 1.1%. Celgene earlier this month released preliminary fourth-quarter and full-year 2017 results and provided a downbeat outlook for 2018. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Health-care ETF tumbles as biotechnology stocks weigh
The largest exchange-traded fund to track the health-care sector fell on Monday, dropping as the biggest declining industry of the day by far. The Health Care Select Sector SPDR ETF was down 0.8%, its biggest one-day percentage drop since Dec. 14. The fund is coming off a four-day rally, and it hit a record on Friday. Biotechnology companies were the biggest drags on the sector on Monday. Celgene Corp. fell 3.2% after it agreed to buy blood-disease biotechnology company Impact Biomedicines for as much as $7 billion. Separately, Biogen Inc. shares fell 3.9% while those for Regeneron Pharmaceuticals was down 3.1%. The iShares Nasdaq Biotechnology ETF fell 0.8% on Monday. Thus far this year, the health-care fund is up 2.3%, compared with the 2.6% rise of the S&P 500 . The S&P was unchanged in Monday trading.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-Celgene CEO Says Plans To Invest Heavily In R&D In 2018
* CELGENE CEO SAYS PLANS TO INVEST HEAVILY IN RESEARCH AND
DEVELOPMENT, BUSINESS DEVELOPMENT IN 2018
Celgene to buy Impact Biomedicines for up to $7 billion
U.S. biotech pharmaceutical firm Celgene Corp (CELG) said on Sunday that it had agreed to acquire Impact Biomedicines for as much as $7 billion, subject to certain milestones associated with regulatory hurdles and sales performance.
Here's Where Things Went Wrong for Celgene Corporation in 2017
Here's a look at why the big biotech's shares cratered late in 2017.
U.S. stocks log modest gains, buoyed by health-care, tech, real-estate shares
U.S. stock benchmarks logged slight gains on Wednesday, helping to halt a two-day skid for equities. However, volumes were seasonally low and activity muted as investors are reluctant to make big bets with just a few trading days remaining in 2017. The Dow Jones Industrial Average ended up about 28 points, or 0.1%, at 24,774, the S&P 500 index finished up 2 points, or 0.1%, at 2,682. Gains in health care, up 0.2%, technology, up 0.2%, and real-estate, 0.4% higher, helped to offset losses in energy, down 0.3%, as crude-oil prices retreated from a 2 1/2-year high. Meanwhile the Nasdaq Composite Index edged up 3 points, or less than 0.1%, to 6,939. The advances were enough to avoid a three-session skid for the major benchmarks, which would have been the longest in three months. In corporate news, shares of Celgene Corp. ended down 2.4% after its shares were downgraded to market perform by Bernstein. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Celgene shares slide 2% after Bernstein downgrade
Shares of biotech Celgene Corp. slid 2% Wednesday, after Bernstein downgraded them to market perform and said pipeline setbacks have crushed much of the stock's potential upside. Celgene said last week a trial of cancer treatment Revlimid as a treatment for follicular lymphoma failed to meet its main goals. The drug, which currently accounts for $8.2 billion of Celgene's sales, was expected to grow to $13.8 billion by 2023, partly because of its use in treating that condition. "We were quite bullish on this potential, modeling $16B by 2022 (of which $3-$4B were for follicular lymphoma)," Bernstein analysts wrote in a note. The news comes after Celgene announced plans to abandon 3 clinical trials for its GED-0301 therapy in Crohn's disease, shedding a part of its inflammation and immunology portfolio that was viewed as having strong potential. Celgene paid $710 million upfront for GED-0301 in 2014 - making the decision a major blow. "Part of the excitement around Celgene is the 'bet on innovation'- CELG focuses on identifying promising targets early and is not afraid to invest heavily to obtain them," wrote Bernstein analysts. "However, some of that shine has eroded recently." Celgene shares have fallen 9% in 2017, while the S&P 500 has gained about 20%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
US STOCKS-UnitedHealth, Nike weigh on Dow
* Celgene falls after follicular lymphoma regimen fails
Celgene stock falls after Revlimid cancer study fails
Celgene Corp. shares declined more than 4% in late trading Thursday after revealing that a phase II study of a cancer drug failed to meet its goal. Celgene said that a study testing Revlimid on follicular lymphoma did not meet the desired endpoint. Revlimid is already approved for other forms of cancer, and is Celgene's biggest drug in terms of revenue, producing $7 billion in sales in 2016 before price hikes last year. "We remain committed to advancing our broad pipeline of novel therapies to establish new standards of care for patients with lymphoma," Chief Medical Officer Jay Backstrom said in the announcement. Celgene stock fell to $103.50 in late trading, after closing with a 0.4% decline at $107.88.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-Celgene Corp updates on court order at request of Canadian Competition Bureau - SEC filing
* Celgene Corp says in Aug, co received an order issued by
the Federal Court in Ottawa, Ontario, Canada at request of
Canadian Competition Bureau
Dow, S&P 500 close higher; biotech weakness pressures Nasdaq
The Dow and S&P 500 ended higher on Thursday, supported by a steady stream of healthy earnings, though weakness in the biotechnology sector pressured the Nasdaq. The Dow Jones Industrial Average rose 71 points, or 0.3%, to 23,401. The S&P 500 added 3.3 points to 2,560, a gain of 0.1%. The Nasdaq Composite Index ended down 7 points, or 0.1%, at 6,557. The Nasdaq's weakness came as biotech shares sold off sharply. The iShares Nasdaq Biotechnology ETF lost 2.3% after Celgene Corp. reported disappointing results and cut its outlook. Celgene shares ended 16% lower. On the upside, Twitter Inc. rose 20% on the back of its results while Ford Motor Co. ended up 1%. The stocks of companies in the pharmaceutical supply chain dropped after a report that Amazon has obtained approval to become a wholesale distributor in a number of states. Rite Aid Corp. sank 6.2% while CVS Health Corp. was down 2.9%. CVS shares were also impacted by reports it would buy Aetna . Shares of Aetna ended 11.5% higher. Adding to the buying momentum, the House of Representatives passed a budget blueprint on Thursday, paving the way for the Senate to later pass a tax-reform package.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Celgene cuts 2020 outlook, Otezla sales disappoint; shares plunge
(Reuters) - Celgene Corp on Thursday reported third-quarter sales of its key psoriasis drug Otezla that badly missed expectations and significantly scaled down its 2020 targets for product sales and earnings, sending its shares tumbling 18 percent.
Dow advances at open; Celgene holds back S&P, Nasdaq
(Reuters) - The Dow Industrials forged ahead at the open on Thursday, driven by gains across sectors, but losses in Celgene held back the two other major Wall Street indexes in one of the busiest days of third-quarter earnings.
UPDATE: Celgene shares drop 15% on updated 2017 guidance
Celgene Corp. shares dropped 15% in premarket trade Thursday after the company reported a third-quarter profit beat and revenue miss and lowered its 2017 profit and revenue outlook. Earnings for the latest quarter rose to $988 million, or $1.21 per share, from $171 million, or $1.21 per share in the year-earlier period. Adjusted earnings-per-share were $1.91, above the FactSet consensus of $1.87. Revenue rose to $3.29 billion from $2.98 billion, below the FactSet consensus of $3.42 billion. Sales of Revlimid, Otezla, Abraxane and Vidaza came in below consensus, while sales of Pomalyst beat the consensus. Celgene also lowered its 2017 revenue and EPS guidance, bringing revenue guidance to about $13 billion, compared with previous guidance of $13 billion to $13.4 billion, and bringing EPS guidance down to $4.78 to $5.19, compared with previous guidance of $5.36 to $5.62. The company's updated 2017 revenue outlook is below the FactSet consensus of $13.23 billion, and its new 2017 EPS guidance is below the FactSet consensus of $5.33. Celgene also increased the lower end of its adjusted EPS guidance, bringing its 2017 EPS outlook to $7.30 to $7.35 from previous guidance of $7.25 to $7.35, compared with the FactSet consensus of $7.32. Celgene shares have dropped 13.2% over the last three months, compared with a 3.2% rise in the S&P 500 .Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Price Hikes Insulate Celgene From a Failure
A gap caused by a late-stage trial failure may be bridged by rising prices on the company's top-selling medicine.
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