New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 5, 2013
13:14 EDTCELGCelgene advances following UBS upgrade to Buy
Shares of drug maker Celgene (CELG) are climbing after UBS upgraded the stock, based on the firm's belief that the risk facing the company's key Revlimid drug has declined. WHAT'S NEW: UBS analyst Matthew Roden believes there is less of a chance that data on Revlimid, expected to be reported this weekend, will be negative. Roden said he reached this conclusion after speaking with Celgene's management. If this weekend's data - which will gauge Revlimid's efficacy as a treatment for a type of blood cancer called myeloma - is "clean," the drug will "be out of the woods" when it comes to clinical and regulatory risk, wrote the analyst. Over the longer term, Roden believes that analysts' 2015-2017 estimates for Celgene can increase. Roden holds this view partially because he thinks that the amount of time that each relapsed myeloma patient will receive Revlimid could increase significantly. The analyst also believes that Celgene's valuation compares favorably to other healthcare companies and to the market as a whole. He upgraded the shares to Buy from Neutral and raised his price target on the shares to $200 from $163. PRICE ACTION: In mid-afternoon trading, Celgene rose $5.07, or 3.17%, to $165.
News For CELG From The Last 14 Days
Check below for free stories on CELG the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
April 16, 2014
08:34 EDTCELGPiper Jaffray tech and biopharma analysts hold analyst/industry conference call
Technical Analyst Johnson, along with BioPharma Analysts, discuss the recent downturn in the biotech and specialty pharmaceuticals industries on an Analyst/Industry conference call to be held on April 17 at 10 am.
April 11, 2014
09:03 EDTCELGCelgene shares can unlock big value, says RBC Capital
Subscribe for More Information
April 10, 2014
10:05 EDTCELGCelgene CEO Hugin says 'excited' about guidance for the year
Subscribe for More Information
08:10 EDTCELGCelgene likely to prevail in patent case, says Stifel
Subscribe for More Information
07:33 EDTCELGCelgene antibody could open door for new area of focus, says Wells Fargo
Wells Fargo believes that Celgene is developing an anti-CD47 antibody that could enable the company to enter the immune-oncology space and pivot into biologics. The firm views the stock as undervalued, and believes that Celgene has many viable opportunities that could enable the stock to rise over the long-term. The firm keeps an Outperform rating on the shares and identifies it as a top pick.
April 9, 2014
12:12 EDTCELGMarkman documents appear to favor Celgene, The Street says
Public documents for the pre-trial Markman hearing appear to favor Celgene over Natco, the generic drugmaker challenging some of Celgene's Revlimid patents, The Street's Adam Feuerstein reports. Shares of Celgene are up 5% to $145.33 in mid-day trading. Reference Link
April 4, 2014
10:45 EDTCELGMylan rises despite Meda rejecting takeover offer
Mylan (MYL) shares are higher this morning following a Financial Times report of its desire to buy Swedish rival Meda. Subsequent to the story being published, Meda confirmed it had been in talks with Mylan but rejected the company's takeover offer. WHAT'S NEW: The Financial Times reported that Mylan was considering buying Meda, a Swedish drugmaker, in a deal that would create a $23B+ pharmaceuticals business. Mylan reportedly hired advisers to put a deal together for Meda, and though the value of a deal was not noted, sources said Mylan was likely to pay a "significant" premium to Meda's market value, which was $4.5B at the end of trading on Thursday. Mylan's market value currently stands at $18.5B. A combination of the drugmakers would create a company with annual revenues of around $9B, the FT said, noting that would be half the size of generic drug rival Teva (TEVA). WHAT'S NOTABLE: Meda's board of directors confirmed that it was contacted by Mylan regarding a proposal to merge the companies, but the board decided to reject the proposal. Meda said all discussions between the company and Mylan have been terminated "without further actions." ANALYST REACTION: Citigroup upgraded Mylan to Buy from Neutral and raised its price target on the stock to $61 from $52 this morning. The firm cited potential operational and tax benefits from an acquisition of Meda, stating that in addition to expanding Mylan's geographic presence, the deal would increase its presence in specialty, OTC and branded generics. OTHER NEWS: Mylan sued Celgene (CELG) to block that company's efforts to keep generic versions of Revlimid and Thalomid off the market, Reuters reported. PRICE ACTION: Mylan shares are up $2.98, or 5.98%, to $52.84 in mid-morning trading.
06:49 EDTCELGMylan sues Celgene for blocking Thalomid, Revlimid generics, Reuters says
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use