Wednesday March 26, 03:50 PM
Celgene: Highest value in sector
NEW YORK (AP) - As the first quarter draws to a close, Celgene Corp (NASDAQ: CELG - news) . has the richest valuation in the health care
sector of the S&P 500 index.
The biopharmaceutical company carries a ratio of stock price to projected future earnings of 40.64. The measure, sometimes called the forward P/E ratio, is often considered an indicator of relative valuation. The S&P 500, according to publisher McGraw-Hill, most recently had a P/E ratio of 19.4.
Of the companies in the group projected to report profits, Bristol, Tenn.-based King Pharmaceuticals (NYSE: KG - news) has the lowest forward P/E ratio at 7.24.
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