News For CELG From The Last 14 Days
|October 9, 2015|
|07:32 EDT||CELG||Celgene says new Otezla data to be presented at EADV Congress|
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|October 8, 2015|
|07:02 EDT||CELG||Concert Pharmaceuticals achieves $8M milestone from Celgene |
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|06:32 EDT||CELG||Piper Jaffray explains why drug prices are justifiable|
Piper Jaffray's team of Biopharma analysts, led by Joshua Schimmer, explain this morning in research note to investors why they believe drug prices are justifiable. The "fairly lopsided" drug-pricing discussion "noise" has created attractive entry points for stocks in the sector, the analysts argue. They say that after adjusting for actual inflation, the growth of drug prices "does not seem particularly concerning." The current dialogue on the topic under-emphasizes the need to provide "extremely attractive incentives" for companies to embark on the "highly risky, capital-intensive, long-development cycle drug development path which is needed to bring new cures for important diseases," the analysts contend. Schimmer's top picks are Alexion (ALXN), Celgene (CELG) and Amgen (AMGN) in the large-cap space, GW Pharmaceuticals (GWPH) and bluebird bio (BLUE) among mid-caps, and Flex Pharma (FLKS), Lion Biotechnologies (LBIO), Otonomy (OTIC) and Ignyta (RXDX) in the small-cap sector.
|October 7, 2015|
|07:34 EDT||CELG||Alliance for Regenerative Medicine to hold a meeting|
Stem Cell Meeting on the Mesa is being held in La Jolla, California on October 7-9.
|05:14 EDT||CELG||Stocks with implied volatility movement; TAP CELG|
Stocks with implied volatility movement; Molson Coors (TAP) 51, Celgene (CELG) 42 according to iVolatility.
|October 6, 2015|
|12:06 EDT||CELG||Piper's Schimmer sees opportunity in Biopharma on TPP-related selloff|
Piper Jaffray analyst Joshua Schimmer says Biopharma stocks are selling off with some spinning the eight years of exclusivity for biologics as part of the Trans Pacific Partnership as a negative for the industry. The development is a "step forward," especially since it does not over-rule the 12 years' exclusivity for the drugs in the U.S., Schimmer tells investors in an intraday research note. While the sector asked for 12 years' exclusivity to match the U.S., eight years is a "reasonable compromise," the analyst argues. His top picks remain Alexion (ALXN), Celgene (CELG) and Amgen (AMGN) in the large-cap space, GW Pharmaceuticals (GWPH) and bluebird bio (BLUE) among mid-caps, and Flex Pharma (FLKS), Lion Biotechnologies (LBIO), Otonomy (OTIC) and Ignyta (RXDX) in the small-cap sector. Further, Schimmer writes that more names look "increasingly compelling" amid the selloff.
|October 2, 2015|
|10:51 EDT||CELG||Celgene October calls active|
Celgene October 120 and 121 calls are active on total call volume of 12K contracts (3K puts) on takeover speculation. October weekly call option implied volatility is at 30, October is at 39, November is at 40; compared to its 52-week range of 23 to 55. Active call volume suggests traders taking positions for upside price movement.
|October 1, 2015|
|18:52 EDT||CELG||Celgene could climb 35%, Barron's says|
Celgene shares could climb 35% and shares look like a buy at current prices, Barron's contends in its 'Barron's Take' column. Reference Link
|10:00 EDT||CELG||On The Fly: Analyst Upgrade Summary|
Today's noteworthy upgrades include: AMEC Foster Wheeler (AMFW) upgraded to Neutral from Underperform at Macquarie... Ares Capital (ARCC) upgraded to Outperform from Neutral at Macquarie... Celgene (CELG) upgraded to Overweight from Neutral at JPMorgan... Deutsche Boerse (DBOEY) upgraded to Overweight from Underweight at Barclays... Devon Energy (DVN) upgraded on valuation, catlysts at Bernstein... HeartWare (HTWR) upgraded to Market Perform from Underperform at Northland... IBERIABANK (IBKC) upgraded to Buy from Hold at Sandler O'Neill... JD.com (JD) upgraded to Buy from Hold at Deutsche Bank... Kirby (KEX) upgraded to Neutral from Underperform at Macquarie... Madison Square Garden (MSG) upgraded to Buy from Hold at Jefferies... Microsoft (MSFT) upgraded to Neutral from Underperform at BofA/Merrill... Newell Rubbermaid (NWL) upgraded to Buy from Neutral at B. Riley... Norfolk Southern (NSC) upgraded to Outperform from Peer Perform at Wolfe Research... Pernod Ricard (PDRDY) upgraded to Buy from Neutral at Goldman... RWE AG (RWEOY) upgraded to Sector Perform from Underperform at RBC Capital... SanDisk (SNDK) upgraded to Overweight from Equal Weight at Morgan Stanley... Steven Madden (SHOO) upgraded to Outperform ahead of earnings turn at Telsey Advisory... Trex Company (TREX) upgraded to Strong Buy from Buy at CL King... Universal Health (UHS) upgraded to Overweight from Sector Weight at KeyBanc... Western Digital (WDC) upgraded on transaction, valuation, momentum at Argus... Workday (WDAY) upgraded to Overweight from Equal Weight at Stephens.
|08:33 EDT||CELG||After massive selloff, large biotechs seen leading sector back|
The biotech sector has been among the worst performing groups during the recent stock market volaility, due to broader macroeconomic concerns as well as sector-specific worries about pushback on drug price increases. However, analysts at JPMorgan and Piper Jaffray issued notes defending a leader in the space, Celgene (CELG), and argued that growth in the sector will continue and cannot be ignored by investors for much longer. BUY CELGENE: JPMorgan analyst Cory Kasimov upgraded Celgene to Overweight citing an "increasingly attractive" valuation following the recent pullback in shares. The company is one the "most fundamentally sound biotechs" and shares at current levels are "too compelling to remain on the sidelines," Kasimov tells investors in a research note. The analyst said that not only does Celgene have an "impressive" proprietary pipeline, but he is also confident in the company's ability to identify potentially first-in-class and best-in-class products to partner on or acquire to continue its growth. Kasimov keeps a $152 price target for the stock. HIGH-GROWTH: Piper Jaffray analyst Joshua Schimmer says recent weakness in the biopharma sector has created a "valuation discrepancy" versus non-growth, non-biopharma stocks that he hasn't seen for a number of years. The sector remains in a "prolonged growth cycle" driven by extended product cycles, attractive and improving pipelines and M&A opportunities, Schimmer told investors in a research note titled "Out of The Ashes, A Growth Sector Poised To Fly Higher." The analyst, who expects large-cap biopharma companies to lift the sector out of the recent weakness, listed Celgene, Alexion (ALXN), Amgen (AMGN) and Endo (ENDP) as his preferred growth names. PRICE ACTION: Celgene shares are down more than 8% over the past month, though the stock closed yesterday up $2.79 to $108.13. During September, Alexion declined 9%, Amgen dropped 9%, Endo fell 10% and the iShares NASDAQ Biotechnology Index ETF (IBB) slid more than 11%.
|06:28 EDT||CELG||Piper sees 'highly compelling' entry points in large cap biopharma|
Piper Jaffray analyst Joshua Schimmer says recent weakness in the biopharma sector has created a "valuation discrepancy" versus non-growth peers that he hasn't seen for a number of years. The sector remains in a "prolonged growth cycle" driven by extended product cycles, attractive and improving pipelines and M&A opportunities, Schimmer tells investors in a research note titled "Out of The Ashes, A Growth Sector Poised To Fly Higher." He expects large-cap biopharma companies to lift the sector out of the recent weakness. His preferred growth names include Celgene (CELG), Alexion (ALXN), Amgen (AMGN) and Endo (ENDP).
|05:47 EDT||CELG||Celgene upgraded to Overweight from Neutral at JPMorgan|
JPMorgan analyst Cory Kasimov upgraded Celgene to Overweight citing an "increasingly attractive" valuation following the recent pullback in shares. The company is one the "most fundamentally sound biotechs" and shares at current levels are "too compelling to remain on the sidelines," Kasimov tells investors in a research note. He keeps a $152 price target for the stock. Celgene closed yesterday up $2.79 to $108.13. Shares are down 8% over the past month.
|September 29, 2015|
|11:11 EDT||CELG||Stocks with call strike movement; CELG GILD|
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|September 25, 2015|
|16:17 EDT||CELG||On The Fly: Top stock stories for Friday|
Stocks opened with sharp gains the day after Fed Chair Janet Yellen gave some clarity to the market by suggesting the Fed will most likely raise interest rates by the end of the year. During afternoon trading, the news flow slowed and the volume lightened on the buy side, leaving the sellers with the upper hand. The Nasdaq was the first index to move into negative territory, led by broad weakness in biotech stocks, while the Dow was helped to stay in the green by a big post-earnings move higher in Nike (NKE). The averages limped into the close, leaving the market with an interesting set-up to begin next week. Outside of stock news, it was certainly a headline packed day, as Speaker of the House John Boehner announced that he will resign at the end of October, Chinese President Xi Jinping continued his U.S. visit and Pope Francis addressed the United Nations while spending a second day in New York City. ECONOMIC EVENTS: In the U.S., the third estimate of second quarter GDP showed the economy grew 3.9% quarter-over-quarter, versus expectations for the GDP growth estimate to stay at 3.7%. Personal consumption in Q2 is now believed to have grown 3.6%, up from the prior estimate of 3.1%. The final University of Michigan consumer sentiment reading for September came in at 87.2, which was down from August's 91.9 but above the expected 86.2 reading... Federal Reserve Chair Janet Yellen said during a speech at UMass Amherst last night that the central bank remains inclined to hike rates this year. Yellen's remarks were incrementally hawkish, but welcomed by the market, since they helped clarify the message the Fed delivered a week ago. Of note, the Fed chair paused multiple times toward the end of her speech and received medical attention afterward, but returned to her regular schedule later in the evening, with the bank explaining that Yellen was dehydrated after a long day but was otherwise fine. COMPANY NEWS: Nike jumped $10.23, or 8.9%, to $125.02 after Thursday night's report of better than expected earnings and futures orders prompted numerous price target hikes at Street research firms. Additionally, Sterne Agee upgraded Nike to Buy from Neutral, saying it thinks the company is benefiting from its "global grass roots engagement with its customers," which enables it to meet its customers' needs and determine to what extent it can raise prices. The firm, which thinks that the company is continuing to gain share, has a $150 price target on the athletic gear giant... Biotech stocks, which were already having a bad week, ended the week on a down note, as the iShares NASDAQ Biotechnology Index (IBB) fell 4.9%, giving it a weekly decline of about 13%. Among the biggest large-cap losers in the space were Vertex (VRTX), which fell 7%, Regeneron (REGN), which dropped 6% and Celgene (CELG), which slid 4.8%. MAJOR MOVERS: Among the notable gainers was Jabil Circuit (JBL), which advanced $2.38, or 12.2%, to $21.88 after it reported higher than expected earnings and gave guidance for its November quarter that was significantly above expectations. Also higher was Cirrus Logic (CRUS), which gained $3.90, or 14.4%, to $31.03 after tear downs of Apple's (AAPL) iPhone 6S and 6S Plus led analysts to conclude that the chipmaker appears poised to obtain more revenue from the new devices than from the previous generation of the market-leading smartphone. Among the noteworthy losers was Finish Line (FINL), which fell $4.86, or 19.6%, to $19.91 after reporting second quarter revenue that missed expectations and saying it expects adjusted earnings this fiscal year to increase in a low single to mid single digits percentage from last year. Also lower following its earnings report was smartphone and software maker BlackBerry (BBRY), which slid 7.68% to $6.49 after the company posted a second quarter loss that was steeper than analysts expected. BlackBerry also confirmed press reports that it plans to launch a new phone that uses Google's (GOOG) Android operating system instead of its own proprietary BB10 OS. Shares of Aratana Therapeutics (PETX), which dropped $6.81, or 38.97%, to $10.68 after the company said that, based on "mixed clinical and scientific results," it does not believe that canine lymphoma products AT-004 and AT-005 in their current, first-generation forms will capture the desired lymphoma market opportunity. INDEXES: The Dow rose 113.35, or 0.7%, to 16,314.67, the Nasdaq fell 47.98, or 1.01%, to 4,686.50, and the S&P 500 added/slipped 0.90, or 0.05%, to 1,931.34.
|07:22 EDT||CELG||European Society for Medical Oncology to hold a conference|
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|05:21 EDT||CELG||Celgene's VIDAZA receives positive CHMP opinion|
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