Baird 'Incrementally Negative' After Celgene (CELG) GED-0301 Data a Non-Event

Baird analyst Brian Skorney said he is incrementally negative after Celgene (NASDAQ: CELG) on GED_0301 results. The firm, however, maintained a Outperform rating and price target of $162.00.

Skorney commented, "Celgene's big 2H16 catalyst turned out to be a non-event, as the topline results of the GED-0301 endoscopy study didn’t include any results. Management is claiming the standard: “We’re reserving data for a medical conference” line, but it’s hard to believe an unambiguous success wouldn’t be described in some quantitative detail."

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 $104.47 yesterday.

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