Baird Reiterates an 'Outperform' on Celgene (CELG); Raising Numbers on Continued Strong US Revlimid Trends

Baird reiterates an 'Outperform' on Celgene (NASDAQ: CELG), price target raised to $76.00.

Baird analyst says, "While investors will likely be holding their collective breath until Revlimid's EU front-line approval later this year, we highlight herein fresh survey data indicating Revlimid's US uptake - across numerous measurement metrics - continues unabated. Given this strong feedback, we are raising our Q411 revenue estimate, FY12-FY15 revenue/EPS estimates, and price target. Combining a timely EU front-line approval with these strong US trends, we think shares can now work into the mid-$70s."

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 $68.66 yesterday.

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