Anybody know why CELG is down 8% to a 52 week low in the $49 area on 4x volume of 18,000,000 shares??????????????????????
this may be part of the reason but who knows? It does appear that ever since the analyst conf call last week the stock has gone down looks like they have figured out that Celgene is no longer going to bring big time growth. Concerns about revlamid slowing and abraxane is a dog and vidaza going off patent not sure why it took them so long. see below CHICAGO, Feb. 3, 2011 /PRNewswire/ -- Zacks.com releases details on a group of stocks that are currently members of the exclusive Zacks #5 Rank List – Stocks to Sell Now. These stocks are currently rated as a Zacks Rank #5 (Strong Sell): Greenhill & Co., Inc. (NYSE: GHL) and Electronic Arts Inc. (Nasdaq: ERTS). Further, Zacks announced #4 Rankings (Sell) on two other widely held stocks: AMCOL International Corporation (NYSE: ACO) and Celgene Corporation (Nasdaq: CELG). Here is a synopsis of why CELG have a Zacks Rank of 4 (Sell) and should also most likely be sold or avoided for the next one to three months. Note that a #4 Sell rating is applied to 15% of all the stocks ranked by Zacks; Celgene Corporation (Nasdaq: CELG) posted fourth-quarter earnings of 65 cents per share on January 27, which came in 3% short of the average forecast. The Zacks Consensus Estimate for 2011 declined 7 cents to $3.02 per share over the past month as 6 analysts out of 11 cut back on expectations. Estimate for 2012 dipped 10 cents to $3.71 per share in a span of a week.
The reasons why include... Attempting to "sell and nuance" their way out of a finding in a series of clinical trials Firing people who could have provided perspective Letting MH lead the response to the medical community
And many Pharmion and Abraxis people will be laughing their asses off. The shoe will be on the other foot at some point in time. Karma
hahahahahahahahahahahahahahahahahahaha what goes around comes around, fun to watch your shit company take a hit and be exposed for the assholes they are in management
Because our mismanaged company bought Abraxis and kept the worst employees to sell the product. The ones that were any good left. THIS is not good. These guys are a joke.
celgene is a joke, ask anyone in oncology biotech that has a set big enough to say it. F off you idiots
Oh, I get it. Blame all Celgenes problems on Abraxis. Look inside, the problem lies in the current leadership.
management by fear is not leadership there is very little leadership evident at this organization no one that has the guts to do something different "just don't rock the boat and stay off the radar screen & strive for mediocrity" no innovation just get your paycheck and coach your kids baseball team
Well said -- however there is yet another problem. LYING. Plain and simple. There are no ethics here. None. Not to say there is a lot in this industry in the first place however this company takes the cake. Not even hiding their lack of ethics. In fact, they are so arrogant they are proud of it.
Is selling off-label illegal? Will this take mgmt. down with quotas built on getting this business. Time will tell.
Celg leadership...cough cough Shawn does not understand breast cancer. She has zero experience in breast cancer. How can you expect her to understand what is on label and what is off label. Do you think her managers would challenge her when she puts out ridiculous goals? The ship is sinking.
I about lost my lunch hearing Shawn speak. Never heard such BS. Abraxane is in trouble. She has NO CLUE what she is doing.
Generic abraxane... Generic Abraxane....... http://economictimes.indiatimes.com/news/news-by-industry/healthcare/biotech/pharmaceuticals/panacea-biotec-to-launch-breast-cancer-drug/articleshow/7472648.cms
Re: Generic abraxane... I am telling you the patent expiration that the clown mark alles keeps telling is total BS i give it less then a year and by then the leadership (ha) will be cursing patrick's name mark your calendar the start of celgene's down fall started with the purchase of abraxane it is all downhill from here
has anyone seen anyone who has been able to escape this industry? seems like people just stick around for easy money and just accept things there is really no pharma or biotech company that appeals to me at all it is all the same bs everywhere
