Celgene (CELG): Possible Deal For EngMab - Jefferies

September 16, 2016 7:21 AM EDT
Get Alerts CELG Hot Sheet
Price: $106.51 -2.67%

Rating Summary:
    28 Buy, 8 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 16 | Down: 27 | New: 33
Trade CELG Now!
Join SI Premium – FREE

Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.

Jefferies analyst, Brian Abrahams, reiterated his Buy rating on shares of Celgene (NASDAQ: CELG) and believes that there is evidence CELG is pursuing a deal (acquisition or partnership) w/ a pvt co, EngMab--whose bispecifics could provide an off-the-shelf, more broadly-applicable modality to hit BCMA (vs. CAR-T) and enable CELG to enter the emerging MM Ab space after having been late to the game on CD38s.

The analyst believes CELG’s high sustainable growth, driven by a strong base business, deep pipeline, and proactive BD, is underappreciated. No change to the price target of $137.

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 $107.35 yesterday.



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

You May Also Be Interested In






Related Categories

Analyst Comments

Related Entities

Jefferies & Co, Definitive Agreement

Add Your Comment