Wells Fargo Maintains an 'Outperform' on Celgene (CELG); Management Meeting Proves Shares Are Attractive
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Price: $123.82 -0.87%
Rating Summary:
19 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 36 | New: 12
Rating Summary:
19 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 36 | New: 12
Trade CELG Now!
Wells Fargo maintains an 'Outperform' on Celgene (NASDAQ: CELG) price target range of $82-$86.
Analyst, Brian Abrahams, said, "On 6/15, we hosted an investor lunch with CELG's CFO. There is some risk going into the EU Revlimid label decision [very likely next Friday 6/22)], and while our meeting did not significantly change our views of the possible outcome, we believe the reward/risk is reasonable going into the event; with many investors likely on the sidelines awaiting the outcome, that could set up for meaningful share upside potential on any reasonable label (e.g. posttransplant and front-line with age restriction)."
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 $66.16 yesterday, with a 52 week range of $51.70-$80.42.
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Analyst, Brian Abrahams, said, "On 6/15, we hosted an investor lunch with CELG's CFO. There is some risk going into the EU Revlimid label decision [very likely next Friday 6/22)], and while our meeting did not significantly change our views of the possible outcome, we believe the reward/risk is reasonable going into the event; with many investors likely on the sidelines awaiting the outcome, that could set up for meaningful share upside potential on any reasonable label (e.g. posttransplant and front-line with age restriction)."
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 $66.16 yesterday, with a 52 week range of $51.70-$80.42.
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