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Stock Market & Financial Investment News

News Breaks
July 1, 2014
12:06 EDTCELGCelgene climbs after analyst spotlights underappreciated opportunities
Shares of Celgene (CELG) are climbing after research firm BMO Capital wrote that several of the drug maker's less prominent opportunities could each generate more than $1B in revenue. WHAT'S NEW: Although most investors are focusing on the outlook for Celgene's Revlimid drug as a treatment for myeloma, a number of Celgene's other opportunities could generate combined revenue that is several times greater than the sales that the company could generate from that drug in that indication, BMO Capital analyst Dr. Jim Birchenough wrote. Among these other opportunities are Celgene's GED-0301 drug as a treatment for Crohn's, its Otezla drug as a treatment for Ankylosing Spondylitis, and its demcizumab drug for solid tumors, the analyst explained. Additionally, Revlimid could be approved for treating other diseases, including diffuse large B-cell lymphoma and indolent non-Hodgkin lymphoma, the analyst forecast. Several of Celgene's mid-to-late stage drugs could each generate more than $1B in sales and they could cumulatively amount to several times the value of the opportunity of Revlimid as a treatment for myeloma, Birchenough stated. He kept a $110.50 price target and Outperform rating on the shares. WHAT'S NOTABLE: Also upbeat on Celgene recently was Barron's. The stock looks like a buy, Barron's stated on June 19, citing Celgene's stock split and share buybacks along with its long-term EPS outlook. PRICE ACTION: Near noon, Celgene rose 2.4% to $87.90.
News For CELG From The Last 14 Days
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September 29, 2014
08:55 EDTCELGCelgene price target raised to $115 from $100 at RBC Capital
RBC Capital increased its price target on Celgene (CELG) as the firm now estimates that the company's new oral Crohn's disease drug GED-0301 will generate $1B in sales. The firm expects Celgene's stock to rise further as it predicts that Phase II data for the company's Crohn's treatment will be much better than the data for AbbVie's (ABBV) Crohn's treatment, Humira. RBC predicts that Celgene's long-term 2020 guidance will beat expectations if the company is able to reach a legal settlement with Actavis (ACT.). RBC Capital keeps an Outperform rating on Celgene.
07:26 EDTCELGInforma Business Information to hold a conference
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September 25, 2014
09:36 EDTCELGActive equity options trading on open
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September 24, 2014
13:17 EDTCELGCelgene continues rally after FDA approval of psoriasis drug
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07:01 EDTCELGCelgene OTEZLA to become important revenue generator, says Cantor
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September 23, 2014
15:21 EDTCELGCelgene announces FDA approves Otezla for treating plaque psoriasis
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September 22, 2014
07:21 EDTCELGEBD Group to hold a conference
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September 17, 2014
07:00 EDTCELGConcert Pharmaceuticals announces initiation of CTP-730 Phase 1 trial
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