Yahoo Finance Celanese (CE) Partners With Alessa for Drug Delivery System
Celanese Corporation CE recently announced a partnership to develop a localized and sustained drug delivery system that is expected to limit systematic side effects for oncology patients and improve the overall treatment process. The company has joined forces with Alessa Therapeutics to develop this system, utilizing the latter’s expertise on sustained localized drug delivery and Celanese’s VitalDose EVA drug delivery platform.
With this collaboration with Alessa, the company aims to optimize therapeutics through this innovative drug delivery system for oncology patients.
Alessa expressed its excitement to receive flexible, responsive and technical support from Celanese. The company is expected to begin human studies of this drug delivery system later this year.
Shares of Celanese have lost 14.9% over a year compared with a 6.6% fall recorded by its industry.
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CE, on its fourth-quarter call, said that it expects growth in its quarterly earnings through 2023 on an improvement in demand and the synergies resulting from the Mobility & Materials acquisition. Factoring in all this, it expects its adjusted earnings to be in the range of $1.50-$1.75 per share for the first quarter of 2023.
Celanese Corporation Price and Consensus
Celanese Corporation price-consensus-chart | Celanese Corporation Quote
Zacks Rank & Key Picks
Celanese currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Olympic Steel, Inc. ZEUS, ATI Inc. ATI, and Cal-Maine Foods, Inc. CALM. ATI currently carries a Zacks Rank #2 (Buy), while ZEUS and CALM sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Olympic Steel’s shares have gained 81.6% in the past year. The Zacks Consensus Estimate for ZEUS’s current-year earnings has been revised 61% upward in the past 60 days. ZEUS topped Zacks Consensus Estimate in all the last four quarters. It delivered a trailing four-quarter earnings surprise of 26.2% on average.
ATI’s shares have gained 63.6% in the past year. The Zacks Consensus Estimate for ATI’s current-year earnings has been revised 1.9% upward in the past 60 days. The company has an earnings growth rate of 9% for the current year.
ATI topped Zacks Consensus Estimate in all the last four quarters. It delivered a trailing four-quarter earnings surprise of 32.4% on average.
Cal-Maine’s shares have gained 27.9% in the past year. The company has an earnings growth rate of 515.8% for the current year. The Zacks Consensus Estimate for CALM’s current-year earnings has been revised 19% upward in the past 60 days.
CALM topped Zacks Consensus Estimate in three of the last four quarters. It delivered a trailing four-quarter earnings surprise of 15.3% on average.
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