Celgene (CELG): Price Increases Add 8c In '17 - Suntrust

October 23, 2017 6:55 AM EDT
Get Alerts CELG Hot Sheet
Price: $108.24 --0%

Rating Summary:
    7 Buy, 27 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 11 | New: 34
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SunTrust Robinson Humphrey analyst, Yatin Suneja, reiterated his Buy rating on shares of Celgene (NASDAQ: CELG) after a third-party source (Wolters Kluwer PriceRx) reported that effective October 19th, Celgene increased the U.S. price of (1) Revlimid by 9.0% from $17,014.74 to $18,546.07 per (28 count) bottle and (2) Pomalyst by 9.0% from $14,525.78 to $15,833.10 per (21 count) bottle.

The analyst stated "we estimate an incremental 2017 sales benefit of ~$80MM, including (1)
Revlimid of ~$68MM and (2) Pomalyst of ~$12MM. We think these price benefits could contribute an incremental ~$0.08 to EPS in 2017". No change to the price target of $156.

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 $121.33 yesterday.

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