UPDATE: UBS Downgrades Celgene (CELG) to Neutral: Taking Some Off The Table
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Price: $108.24 --0%
Rating Summary:
7 Buy, 27 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
7 Buy, 27 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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(Updated - September 10, 2012 12:26 PM EDT)
UBS downgraded Celgene (NASDAQ: CELG) from Buy to Neutral. PT raised $2 to $80.
Analyst, Matthew Roden, said, "CELG shares are up 27% since Revlimid was not approved in the EU (S&P: +8%), at which time we argued upcoming apremilast data represented a catalyst for re-rating. That having played out, we see the risk-reward as more balanced at current levels, and view CELG as a stock we’d rather add on pullbacks, such as those created from the second cancer controversy or the Revlimid EU non-approval. See our accompanying industry note for our updated views on the sector."
FY13 EPS estimate lowered from $5.53 to $5.46.
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 $75.44 yesterday.
UBS downgraded Celgene (NASDAQ: CELG) from Buy to Neutral. PT raised $2 to $80.
Analyst, Matthew Roden, said, "CELG shares are up 27% since Revlimid was not approved in the EU (S&P: +8%), at which time we argued upcoming apremilast data represented a catalyst for re-rating. That having played out, we see the risk-reward as more balanced at current levels, and view CELG as a stock we’d rather add on pullbacks, such as those created from the second cancer controversy or the Revlimid EU non-approval. See our accompanying industry note for our updated views on the sector."
FY13 EPS estimate lowered from $5.53 to $5.46.
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 $75.44 yesterday.
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