Celgene (CELG): Underappreciated - Jefferies

November 21, 2016 7:30 AM EST
Get Alerts CELG Hot Sheet
Price: $113.04 -0.51%

Rating Summary:
    28 Buy, 8 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Jefferies analyst, Brian Abrahams, reiterated his Buy rating on shares of Celgene (NASDAQ: CELG) and perceives the acquisition of marizomib as a positive step in their underappreciated, diversified life cycle strategy (BCMAs, CELMoDs, CD47).

Even assuming complete loss of MM/NHL revs post-cliff the analyst can get to a $140 PT, and the replacement of even a part of Revlimid revenues, long term, with these next gens would lead to upside to Street’s ests.

No change to the price target of $140.

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 $121.97 yesterday.

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