Celgene (CELG): Clinical and Endoscopic Mongersen Data Is Competitive - BMO

October 17, 2016 6:16 AM EDT
Get Alerts CELG Hot Sheet
Price: $113.47 +0.36%

Rating Summary:
    28 Buy, 8 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 21 | Down: 36 | New: 11
Trade CELG Now!
Join SI Premium – FREE

Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.

BMO Capital analyst, Ian Somaiya, reiterated his Outperform rating on shares of Celgene (NASDAQ: CELG) ahead of Chron's data to be presented tomorrow.

The analyst noted that results from the CD-001 Phase Ib trial confirmed endoscopic improvement and clinical remission rates are competitive with marketed biologics and orals in development (i.e., GILD/GLPG filgotinib). He takes this one step further and suggests that the strength of the data should start to put to rest investor debate on size of the mongersen opportunity, (BMO >$4bn in Crohn's and UC) and enable CELG shares to trade higher.

Full data will be presented at UEGW (Abstract LB16, Tuesday, 10/18/2016, 6:27am EDT).

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 $98.50 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