Celgene's (CELG) Deal with Juno (JUNO) 'Transformational', BMO Capital Says

BMO Capital analyst Jim Birchenough reiterated an Outperform rating and $163 price target on Celgene (NASDAQ: CELG), calling the Juno Therapeutics (NASDAQ: JUNO) long-term collaboration on T-cell immunotherapies "transformational."

Birchenough commented, "We are reiterating our Outperform rating on the shares of CELG following its long-term collaboration for Juno. With consummation of the deal, we see CELG as exposed to a best-in-class adoptive cell therapy (ACT) platform, with resources to ‎fully develop CAR-T and TCR technology optimally against what we believe to be a high hurdle in solid tumors. Ultimately, we believe that CELG immuno-oncology platform has been underestimated, with what we believe to be best-in-class structured-based antibody design and bispecific technology, now complemented by ACT technology. With multiple opportunities to succeed in large solid tumor markets, we see significant upside for CELG shares."

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 $114.91 yesterday.

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