Citadel Securities Maintains an 'Edge Negative' on Celgene (CELG); Behind the Smoke and Mirrors: Revlimid Ex-U.S. Growth Updated Guidance Suggests Slowdown Ahead
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Price: $124.91 +1.16%
Rating Summary:
19 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
19 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade CELG Now!
Citadel Securities maintains an 'Edge Negative' on Celgene (NASDAQ: CELG) price target of $47.
Citadel analyst says, "We are maintaining our Edge Negative Rating and 12-month $47 price target based on our expectation for a near-term deceleration in Revlimid revenue growth. We are updating our model to reflect increased ex-U.S. Abraxane revenues, offset by slowing ex-U.S. Revlimid revenue growth and higher operating expenses and a higher tax rate. Our FY revenue estimate increases to $4,607.9MM from $4,540.3MM, and our adjusted EPS estimate increases to $3.47 from $3.36."
For more ratings news on Celgene click here and for the rating history of Celgene click here.
Shares of Celgene closed at $59.48 yesterday, with a 52 week range of $48.92-$63.46.
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Citadel analyst says, "We are maintaining our Edge Negative Rating and 12-month $47 price target based on our expectation for a near-term deceleration in Revlimid revenue growth. We are updating our model to reflect increased ex-U.S. Abraxane revenues, offset by slowing ex-U.S. Revlimid revenue growth and higher operating expenses and a higher tax rate. Our FY revenue estimate increases to $4,607.9MM from $4,540.3MM, and our adjusted EPS estimate increases to $3.47 from $3.36."
For more ratings news on Celgene click here and for the rating history of Celgene click here.
Shares of Celgene closed at $59.48 yesterday, with a 52 week range of $48.92-$63.46.
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