NEW YORK, NY / ACCESSWIRE / May 11, 2017 / Botox maker Allergan suffered a loss on Wednesday, the day after the multi-national pharmaceutical company released its first quarter earnings that beat estimates. The loss came despite a profit beat and a raised outlook for 2017. Celgene Corporation had a flat day yesterday but suffered some modest losses earlier in the week after one of its partners reported a disappointing Q1 earnings report.

RDI Initiates Coverage on:

Allergan plc
https://ub.rdinvesting.com/news/?ticker=AGN

Celgene Corporation
https://ub.rdinvesting.com/news/?ticker=CELG

Allergan plc closed down 3.69% yesterday on heavier volume than usual after the company released its first quarter earnings report on Tuesday. The Ireland-based company reported earnings of $3.35 per share, excluding items, which came in lower than the $3.30 per share that analysts had looked for according to Thomson Reuters. Looking ahead the company sees revenue at $15.8 to $16 billion compared to the previously predicted $15.5 billion to $15.8 billion. The forecast includes its acquisition of Zeltiq Aesthetics, which the company purses for $2.48 billion in February. Zeltiq has a device called Coolsculpting that freezes fat away. "We are thrilled to complete the acquisition of ZELTIQ, which immediately expands our world-class global aesthetic business into the highly-complementary and fast-growing body contouring segment," said Bill Meury, Chief Commercial Officer of Allergan. "CoolSculpting gives Allergan the most comprehensive and dynamic portfolio of products for plastic surgeons, dermatologists and other aesthetic providers across the globe."

Access RDI's Allergan Research Report at:
https://ub.rdinvesting.com/news/?ticker=AGN

Celgene Corporation's shares traded relatively flat on Wednesday but had a big hit earlier in the week when the company's partner Acceleron Pharma XLRN posted results that came in below estimates. Celgene themself had a better report and reported earnings of $1.53 in the first quarter which beat the Zacks Consensus Estimate of $1.47. Revenue grew compared to a year ago, but came in lower than what the Street called for. Celgene reported revenue of $2.96 billion, a 17.8% increase from Q1 2016, but less than the $3.04 billion that the Zacks Consensus Estimate expected. On an optimistic note, the biotech giant has forecast $7.15 to $7.30 for the full year, which is higher than the $7.10 to $7.25 it previously predicted. This is also higher than the Zacks estimate of $6.59. Shares closed at $119.68 yesterday.

Access RDI's Celgene Research Report at:
https://ub.rdinvesting.com/news/?ticker=CELG

Our Actionable Research on Allergan plc (NYSE: AGN) and Celgene Corporation (NASDAQ: CELG) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com