Cantor Fitzgerald Lifts Target on Celgene (CELG) to $96 on ABRAXANE
Cantor Fitzgerald raised its price target on Buy-rated Celgene (NASDAQ: CELG) from $82 to $96.
The firm comments, "Celgene has disclosed that ABRAXANE has met the primary endpoint of overall survival in a trial of metastatic pancreatic cancer. Though we have not seen any details from the trial (to be released at ASCO GI), it is our expectation that the ABRAXANE arm will show a meaningful improvement in overall survival, upward of one month, and perhaps 2-3 months. And while details have not been released, what has been disclosed is that the results are highly significant across all endpoints."
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 $71.50 yesterday, with a 52 week range of $58.53-$81.24.
The firm comments, "Celgene has disclosed that ABRAXANE has met the primary endpoint of overall survival in a trial of metastatic pancreatic cancer. Though we have not seen any details from the trial (to be released at ASCO GI), it is our expectation that the ABRAXANE arm will show a meaningful improvement in overall survival, upward of one month, and perhaps 2-3 months. And while details have not been released, what has been disclosed is that the results are highly significant across all endpoints."
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 $71.50 yesterday, with a 52 week range of $58.53-$81.24.