CELG - Embedded Expectations Analysis - 2018 08 27
ï€ Celgene Corporation (CELG:USA) currently trades well below corporate averages relative to UAFRS-based (Uniform) Earnings, with a 9.5x Uniform P/E, implying bearish expectations for the firm. Meanwhile, management has concerns about the value creation from their recent investments and study resultsï€ Specifically, management may lack confidence in their ability to drive growth with their investments in their pipeline and people. Additionally, they may have concerns about their strategy to utilize value-based pricing approaches by modernizing for Medicare Part D. Furthermore, they may lack confidence in their ability to prepare for the future due to uncertainty surrounding Medicare. They may also lack confidence in their ability to achieve expected top line performance from their portfolio, and they may be concerned about revenue headwinds stemming from higher distributor buying patterns. Moreover, they may be overstating their confidence in the progress of bb2121 and liso-cel, and the success of their Phase III results for luspatercept
Celgene is a global biopharmaceutical company engaged primarily in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation. The company's primary commercial stage products include: REVLIMID?, an oral immunomodulatory drug; POMALYST?/IMNOVID?, a proprietary, small molecule; OTEZLA?, an oral small-molecule inhibitor of phosphodiesterase 4 for cyclic adenosine monophosphate; ABRAXANE?, a solvent-free chemotherapy product; and VIDAZA?, a pyrimidine nucleoside analog. In addition, the company provides other product sales and licensing arrangements.
In 2009, just as the dust was settling from the last major equity and credit market crises, we launched a boutique research firm with the intention of breaking Wall Street’s biases and broken incentives:
- GAAP and IFRS have failed to provide rules for reliable financial statement reporting
- Stock analyst recommendations are not grounded in disciplined financial analysis
- Credit agencies have been set up to grossly fail in their responsibilities to investors and the public markets
- Utter lack of willingness of major research firms to employ the the most advanced forensic analysis available
We sought to provide investors and company analysts with a source of information that changed all that.
Many years later, our business model remains because little has changed on Wall Street.
- Corporate credit ratings remain years behind the fundamental underpinnings of company performance
- Stock analysts continue to make recommendations with deeply inherent biases
- Research firms have failed to break down the walls between credit, equity, and macroeconomic research
- The governing accounting bodies have created more leeway for mis-estimates and mis-classifications as financials have become unwieldy and overwhelming
The integrity of Valens Research is founded in our disciplined processes and analytics. No “star” analysts. No corporate advisory relationships. No-nonsense opinions and recommendations.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.