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Celgene Corporation (NASDAQ:CELG) Waiting For Another FDA Approval

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Celgene Corporation (NASDAQ:CELG) Otezla (apremilast) oral treatment demonstrated clinically meaningful and sustained improvements in the skin, nail and scalp of adult patients with moderate-to-severe plaque psoriasis in two Phase III studies.

The disease Psoriasis is a chronic inflammatory skin disorder, and the cause of this condition is unknown. Recently, Celgene Corporation (NASDAQ:CELG) has presented data to FDA, from the studies in last week, and get approval of the therapy for psoriatic arthritis. Celgene Corporation (NASDAQ:CELG) is now waiting for authorization by FDA for the wider psoriasis population, and reportedly the decision is expected in September.

If the health company receives the latter approval of it, the analysts reckon Otezla could generate peak annual sales of $1.2 Billion.

On last trading day Celgene Corporation (NASDAQ:CELG) ended up -3.74% lower to close at $144.40 while trading in the range of $143.10 – $151.49. Its return on assets (ROA) is 11.50% while return on investment (ROI) is 15.40%. Celgene Corporation (NASDAQ:CELG)monthly performance is -11.73%. CELG belongs to Healthcare sector with market capitalization of 58.63B and has 0.20% insider ownership. It is -17.33% away from its 52 week high. This Year Company’s Earnings per Share (EPS) growth is 2.10% and next year’s estimated EPS growth is 31.52%. Analysts mean target price for Celgene Corporation (NASDAQ:CELG) is $189.72.

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