UBS Maintains a 'Buy' on Celgene (CELG); Thoughts on the Stock: 2012 is a Pivotal Year

UBS maintains a 'Buy' on Celgene (NASDAQ: CELG) price target raised from $84 to $88.

UBS analyst says, "We are long-term believers in Celgene, but we see 2012 as a pivotal year. In order to break out to the next level, we think the following needs to be resolved: [1] EU label expansion; [2] pomalidomide approval; and [3] favorable resolution of the Watson patent challenge. That said, we see opportunity in 2012 from further upside to numbers and the unprecedented number of clinical trials reading out this year."

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 $72.66 yesterday.

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