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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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January 30, 2015
07:09 EDTCELGCelgene price target raised to $145 from $131 at Cantor
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January 29, 2015
12:26 EDTCELGCelgene price target raised to $135 from $115 at Piper Jaffray
Piper Jaffray raised its price target for Celgene shares to $135 following the company's Q4 results and reiterates an Overweight rating on the name. Piper believes Celgene continues to have one of the strongest mid-term growth outlooks.
07:35 EDTCELGCelgene backs FY20 adjusted EPS view to exceed $12.50
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07:35 EDTCELGCelgene backs FY17 adjusted EPS view about $7.50
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07:34 EDTCELGCelgene sees FY15 adjusted EPS $4.60 -$4.75, consensus $4.87
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07:32 EDTCELGCelgene reports Q4 adjusted EPS $1.01, consensus 99c
Reports Q4 revenue $2.09B, consensus $2.08B. REVLIMID sales for Q4 increased 16% to $1,322 million and were driven by increased market share and duration of therapy.
January 28, 2015
15:38 EDTCELGNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Celgene (CELG), consensus 99c... ConocoPhillips (COP), consensus 59c... Abbott Laboratories (ABT), consensus 67c... Occidental Petroleum (OXY), consensus 68c... Colgate-Palmolive (CL), consensus 74c... Ford (F), consensus 23c... Dow Chemical (DOW), consensus 69c... Alibaba (BABA), consensus 75c... Thermo Fisher (TMO), consensus $1.94; Time Warner Cable (TWC), consensus $2.09... Phillips 66 (PSX), consensus $1.34... Alexion Pharmaceuticals (ALXN), consensus $1.29... Baxter International (BAX), consensus $1.31... Cardinal Health (CAH), consensus $1.10... Raytheon (RTN), consensus $1.08... Northrop Grumman (NOC), consensus $2.25... Viacom (VIAB), consensus $1.28... Valero Energy (VLO), consensus $1.32... Sherwin-Williams (SHW), consensus $1.38... Hershey (HSY), consensus $1.06... Mead Johnson (MJN), consensus 88c... Zimmer (ZMH), consensus $1.71... Xcel Energy (XEL), consensus 34c... Royal Caribbean (RCL), consensus 42c... Coach (COH), consensus 66c... Kate Spade (KATE), consensus 24c... Harley-Davidson (HOG), consensus 34c... Stanley Black & Decker (SWK), consensus $1.52... L-3 Communications (LLL), consensus $2.27... JetBlue (JBLU), consensus 24c.
January 23, 2015
07:21 EDTCELGCelgene receives positive CHMP opinion for ABRAXANE
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January 21, 2015
08:36 EDTCELGCelgene price target raised to $139 from $115 at RW Baird
Baird raised its price target on Celgene to $139 from $115 following last week's guidance from the company. Baird reiterated its Outperform rating on Celgene shares.
January 16, 2015
09:11 EDTCELGCelgene says oral Otezla approved by European Commission in 2 indications
Celgene International, a wholly-owned subsidiary of Celgene Corporation, announced that the European Commission has granted marketing authorisation for OTEZLA, the company’s oral selective inhibitor of phosphodiesterase 4, in two therapeutic indications: For the treatment of moderate-to-severe chronic plaque psoriasis in adult patients who failed to respond to or who have a contraindication to, or are intolerant to other systemic therapy including cyclosporine, methotrexate or psoralen and ultraviolet-A light. Alone or in combination with Disease Modifying Antirheumatic Drugs, for the treatment of active psoriatic arthritis in adult patients who have had an inadequate response or who have been intolerant to a prior DMARD therapy. The marketing authorization is based on efficacy and safety data from two Phase III programs, ESTEEM AND PALACE, which demonstrate a maintained clinical response among patients with psoriasis and psoriatic arthritis treated with OTEZLA through 52 weeks, across multiple endpoints. The EC decision follows the positive opinion issued by the Committee for Medicinal Products for Human Use in November 2014.12 OTEZLA will be launched in the European Union in the coming months in accordance with local requirements.

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