Celgene (CELG) Revlimid Estimates, PT Lifted at Nomura
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Rating Summary:
7 Buy, 27 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 11 | New: 43
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Nomura Securities analyst Ian Somaiya reiterated a Buy and Top Pick rating while boosting his price target on Celgene (NASDAQ: CELG) to $136.00 (from $124.00) following results.
Somaiya commented, "We are increasing our Revlimid estimates and TP to $136, from $124, as we see continued strength in Revlimid sales heading into frontline approval next year. We reiterate our Buy rating and view on CELG as our top large-cap pick for 2015, as positive Phase II GED-0301 data in Crohn’s disease supported another multi-billion-dollar opportunity for Celgene and is the first of several pipeline catalysts that should drive shares into 2015. We expect increasing visibility on multiple pipeline drugs in 4Q, including data presentation at the 2014 ASH conference (Dec 6-9) for Phase II luspatercept in beta-thalessemia and MDS, Phase II sotatercept in MDS, Phase I AG-221 in hematologic malignancies, and Revlimid Phase III in the larger non-del5q lower risk MDS population. We believe investor focus will remain on the pipeline through 2015, with Revlimid frontline approval in the US (Feb 22, 2015 PDUFA) and EU (1H15E), and Phase III REMARC data in DLBCL (2H15E), a potential $2bn opportunity in DLBCL alone."
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 $100.40 yesterday.
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