Celgene (CELG) volatility up; shares down 10% on withdrawal of Revlimid CHMP submission

Celgene (Nasdaq: CELG) is recently down $7.06 to $60.10 in the premarket after withdrawing its CHMP submission for Revlimid. Stifel Nicolas has a Buy rating and an $87 price target on the company. Overall option implied volatility of 32 is above its 26-week average of 29.

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