Drug Giant Could Help Boost Biotech ETF Rally

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July 27, 2016 2:08pm NASDAQ:BLUE NASDAQ:CELG

biotechThe last time Celgene Corporation (NASDAQ:CELG) reported earnings back in April, Wall Street analysts were not too enthused with the cautious tone from management (nor the EPS and revenue guidance), which all came in below expectations.


Fast forward to this week’s report set to to be released on Thursday morning, and we see the stock climbing from the mid-$90’s a month ago to currently $108.21, up nearly 2% on the session. We can gather analysts will be looking for guidance in several areas from the company.

– Will the company announces any new collaborations & drug/technology licensing deals as they did in previous deals with the likes of Bluebird Bio (NASDAQ:BLUE), OncoMed (NASDAQ:OMED), Juno Therapeutics (NASDAQ:JUNO), Acceleron (NASDAQ:XLRN), and Epizyme (NASDAQ:EPZM)?

– Will the company continue to be aggressive buying back its shares? Recently added $3B to its existing share buyback program.

– Are there any updates regarding the 18 phase 3 trials scheduled to be completed by 2018?

These answers and any others that are discussed will definitely have an impact on the iShares Nasdaq Biotechnology (NASDAQ:IBB) ETF, which is down over 16% year-to-date, but similar to Celgene, has started to show some life, rebounding from the $250 levels in late June to where it currently trades today at $285.

CELG-2016-07-27

Shares of Celgene Corporation are trading at $108.35, up $2.17 (+2.07%) in Wednesday afternoon trading.


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