Baird 'Incrementally Negative' After Celgene (CELG) GED-0301 Data a Non-Event
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Baird analyst Brian Skorney said he is incrementally negative after Celgene (NASDAQ: CELG) on GED_0301 results. The firm, however, maintained a Outperform rating and price target of $162.00.
Skorney commented, "Celgene's big 2H16 catalyst turned out to be a non-event, as the topline results of the GED-0301 endoscopy study didn’t include any results. Management is claiming the standard: “We’re reserving data for a medical conference” line, but it’s hard to believe an unambiguous success wouldn’t be described in some quantitative detail."
Shares of Celgene closed at $104.47 yesterday.
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