Celgene (CELG): Underappreciated - Jefferies
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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.
Shares of Celgene closed at $121.97 yesterday.
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