Leerink Partners Downgrades Celgene (CELG) to Market Perform Following Acquisition

RBC Capital Downgrades Celgene (CELG) to Sector Perform Following Acquisition

RBC Capital analyst Brian Abrahams downgraded Celgene (NASDAQ: CELG) from Outperform to Sector Perform with a price target of $103.00 following the Bristol-Myers Squibb acquisition.

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 $66.64 yesterday.

Bristol-Myers Squibb (BMY) Should Have Support Around $45 - BMO

BMO Capital analyst Alex Arfaei sees Bristol-Myers Squibb Co. (NYSE: BMY) having support here (~$45) and as an attractive with the CELG related sell-off.

The analyst commented, "We agree with the strategic rationale of the proposed BMY+CELG deal. BMY needs to... More

Celgene (CELG) option implied volatility decreases on Bristol-Myers (BMY) acquisition

Celgene (NASDAQ: CELG) January call option implied volatility is at 24, February is at 20; compared to its 52-week range of 22 to 57 after Bristol-Myers (BMY) to acquires for equity value of approx. $74B. Call put ratio 1 call to 1.9 puts.

Bristol-Myers/Celgene Deal Should Stabilize the Biotech Sector Broadly - Raymond James

Raymond James biotech analyst Dane Leone said the Bristol-Myers (NYSE: BMY) takeover is great for Celgene (NASDAQ: CELG) shareholders and should stabilize the biotech sector broadly.

Pre-Open Stock Movers 01/03: (OHRP) (CELG) (DBVT) Higher; (AAPL) (LITE) (BMY) Lower (more...)

Pre-Open Movers

Ohr Pharmaceutical, Inc. (Nasdaq: OHRP) 73.6% HIGHER; announced today that it has entered into a definitive merger agreement with NeuBase Therapeutics, Inc., under which the stockholders of NeuBase would become the majority holders of the combined company. The proposed merger will create a public company focused on advancing NeuBases peptide-nucleic acid (PNA) antisense oligonucleotide (PATrOL) technology platform for the development of therapies to address severe and currently untreatable diseases caused by genetic mutations.

Aevi Genomic Medicine, Inc. (NASDAQ: GNMX) 70.4% LOWER;... More

Bristol-Myers Squibb (BMY) falls 12.2% after announcing acquisition of Celgene (CELG)

Bristol-Myers Squibb (NYSE: BMY) falls 12.2% after announcing acquisition of Celgene Corporation (NASDAQ: CELG)

Bristol-Myers to buy Celgene for $74 billion in largest biopharma deal

By Michael Erman and Ankur Banerjee

(Reuters) - Bristol-Myers Squibb Co (NYSE: BMY) said on Thursday it would buy Celgene Corp (NASDAQ: CELG) for about $74 billion, combining two of the world's largest cancer drug businesses in the biggest pharmaceutical deal ever.

Both Bristol-Myers and Celgene face separate challenges, and some Wall Street analysts questioned whether the combination - which the companies said would create $2.5 billion in cost savings and significantly raise earnings - would solve them. Amid clinical setbacks and other missteps, Bristol-Myers shares fell 15.2 percent in 2018 while Celgene plunged... More

Celgene (CELG) option implied volatility flat; Bristol-Myers (BMY) to acquire

Celgene (NASDAQ: CELG) January weekly call option implied volatility is at 39, January is at 40, February is at 39; compared to its 52-week range of 22 to 57 into Bristol-Myers (BMY) to acquire in deal with equity value of approx. $74B. Call put ratio 1 call to 1 put.

Bristol-Myers Squibb (BMY) to Acquire Celgene Corp. (CELG) for Approx. $74B

Bristol-Myers Squibb Company (NYSE: BMY) and Celgene Corporation (NASDAQ: CELG) today announced that they have entered into a definitive merger agreement under which Bristol-Myers Squibb will acquire Celgene in a cash and stock transaction with an equity value of approximately $74 billion. Under the terms of the agreement, Celgene shareholders will receive 1.0 Bristol-Myers Squibb share and $50.00 in cash for each share of Celgene. Celgene shareholders will also receive one tradeable Contingent Value Right (CVR) for each share of Celgene, which will entitle the holder to receive a payment for... More