Celgene (CELG) PT Lifted to $150 at Cowen Amid Solid Q2

Cowen analyst Eric Schmidt bumped his price target on Outperform-rated Celgene (NASDAQ: CELG) to $150.00 (from $146.00) following solid Q2 results.

Schmidt commented, "Celgene reported Q2 sales of $2.254B (+22% Y/Y) and non-GAAP EPS $1.17 (+30% Y/Y, excluding 1x gain of $0.06), in-line with its pre-announcement. We expect CELG shares to outperform based on greater investor appreciation of the company's improved pipeline and longer-term growth potential, upward earnings revisions, and a potential Revlimid patent settlement. Out PT moves from $146 to $150."

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 $138.26 yesterday.

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