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December 9, 2013
11:01 EDTCELGCelgene advances after analysts say Revlimid data positive
Shares of Celgene (CELG) are advancing after a number of analysts wrote that the company should get a boost from data it reported on its Revlimid drug yesterday. WHAT'S NEW: Research firm Cantor was upbeat on data from a study of Celgene's Revlimid drug as a treatment for patients with newly diagnosed multiple myeloma ineligible for stem cell transplants. Multiple myeloma is a blood cancer. The data was "impressive," wrote Cantor analyst Mara Goldstein. Revlimid, in combination with another drug, given continuously produced greater progression free survival than when it was stopped after 72 weeks, Goldstein wrote. Patients who were continuously treated with Revlimid also had greater progression free survival than a competing drug combination, she added. Goldstein believes that Celgene's stock should be able to rise further and she kept a Buy rating on the stock. Also upbeat on Celgene was RBC Capital analyst Michael Yee. The data announced yesterday ensures that the EU will approve Revlimid as a treatment for multiple myeloma, and will likely cause Wall Street analysts to raise their estimates for Celgene, he wrote. Additionally, the data will cause continuous treatment with Revlimid to become standard for multiple myeloma patients around the world, according to the analyst, who increased his price target on the stock to $190 from $175. He anticipates that the company will increase its 2015-2017 guidance and he kept an Outperform rating on the stock. PRICE ACTION: In mid-morning trading, Celgene climbed $6.50, or 3.9%, to $173.
News For CELG From The Last 14 Days
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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
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April 10, 2014
10:05 EDTCELGCelgene CEO Hugin says 'excited' about guidance for the year
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08:10 EDTCELGCelgene likely to prevail in patent case, says Stifel
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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

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