Celgene (CELG): Clinical CELMoD Data Creates LT Optionality - BMO

September 30, 2016 7:46 AM EDT
Get Alerts CELG Hot Sheet
Price: $98.91 -1.11%

Rating Summary:
    28 Buy, 8 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
Trade CELG Now!
Join SI Premium – FREE

Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.

BMO Capital analyst, Ian Somaiya, reiterated his Outperform rating on Celgene (NASDAQ: CELG) after the company unveiled clinical data from its CELMoD pipeline, showcasing its expertise in protein homeostasis.

The near-term impact on CELG shares is expected to be limited but the pipeline optionality from 2020-30 could be meaningful. Promising early clinical results from ongoing trials of CC-122 in DLBCL and CC-220 in Lupus highlighted the company’s knowledge of Cereblon and the use of biomarker and PD data to drive efficacy.

The analyst believes CC-220 could be ideally suited for myeloma but the drug’s success in an ongoing lupus trial could also lead to Celgene pursuing a back-up compound.

No change to the price target of $141.

For an analyst ratings summary and ratings history on Celgene click here. For more ratings news on Celgene click here.

Shares of Celgene closed at $102.77 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments

Related Entities

BMO Capital

Add Your Comment