Celgene (CELG): Possible Deal For EngMab - Jefferies

September 16, 2016 7:21 AM EDT
Get Alerts CELG Hot Sheet
Price: $114.20 -2.79%

Rating Summary:
    28 Buy, 8 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 9
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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.

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