Biotech advances, new investments and merger activity have helped lift drugmakers like Alexion Pharmaceuticals (ALXN), Celgene (CELG) and Biogen Idec (BIIB) past the rest of the market, which has seen some ups and downs recently. Those companies as well as Perrigo (PRGO) and Actavis (ACT) are all on IBD’s Big Cap Screen of the Day, which features large stocks with strong earnings and price performance. Several also appear in IBD’s Leaderboard, a
SAN FRANCISCO — Big-cap biotech Celgene (CELG) announced preliminary 2013 results on Monday and raised its long-term guidance, but that fell short of Wall Street’s bullish expectations, driving shares down on the stock market today. At the annual JPMorgan Healthcare Conference in San Francisco, Celgene executives said 2013 revenue totaled $6.5 billion, a bit above analysts’ consensus and up about $1 billion from 2012. Earnings of $3.96 a share
Celgene (CELG) kicks off a slew of major earnings reports, even if it isn’t on the official calendar. The biotech will “present unaudited 2013 financial results” and an updated financial outlook Monday morning at the J.P. Morgan Healthcare Conference in San Francisco. At last year’s JPMorgan conference, Celgene issued bullish financial guidance through 2017 as well as some drug trial information. Celgene is just one of many medical companies to