Barclays Maintains an 'Overweight' on Celgene (CELG) Heading Into EU Decision; Shares Could Jump to Mid-$70s

Barclays maintains an 'Overweight' on Celgene (NASDAQ: CELG) price target of $83.00.

Analyst, Ying Huang, said, "The Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) is expected to issue a much anticipated recommendation on Revlimid as a frontline/maintenance treatment for multiple myeloma this week."

Huang sees a worst-case scenario of a $5-6 price drop (if no recommendation) and sees the stock jumping into the mid-$70's (if recommended)

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.

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