Barclays Maintains an 'Overweight' on Celgene (CELG); Raising PT & Estimates on Broad Revlimid Label Expected from EMA
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Price: $108.24 --0%
Rating Summary:
7 Buy, 27 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 7
Rating Summary:
7 Buy, 27 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 7
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Barclays maintains an 'Overweight' on Celgene (NASDAQ: CELG) price target raised from $83 to $86.
Analyst, Ying Huang, said, "From a base of $77 (no front-line/maintenance Revlimid in EU), a broad label across transplant eligible & ineligible populations would result in $11/share upside, framing a bull case at $89. Separately, we value the transplant eligible subset at $4/shr, transplant ineligible (65-75 year old) at $5/share, and transplant ineligible (>75 year old) at $3/shr."
"We raise our PT based on an EMA label in post-transplant maintenance and front-line maintenance for transplant ineligible patients 65-75 years old. In our view, compelling clinical trial data supports the likelihood of this scenario."
Huang raises FY13 EPS estimate from $5.09 to $5.29.
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 $77.52 yesterday.
Analyst, Ying Huang, said, "From a base of $77 (no front-line/maintenance Revlimid in EU), a broad label across transplant eligible & ineligible populations would result in $11/share upside, framing a bull case at $89. Separately, we value the transplant eligible subset at $4/shr, transplant ineligible (65-75 year old) at $5/share, and transplant ineligible (>75 year old) at $3/shr."
"We raise our PT based on an EMA label in post-transplant maintenance and front-line maintenance for transplant ineligible patients 65-75 years old. In our view, compelling clinical trial data supports the likelihood of this scenario."
Huang raises FY13 EPS estimate from $5.09 to $5.29.
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 $77.52 yesterday.
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