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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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May 26, 2015
20:50 EDTCELGBernstein to hold a conference
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07:39 EDTCELGCelgene management to meet with SunTrust
Group dinner to be held in New York on May 27 hosted by SunTrust.
May 21, 2015
08:08 EDTCELGAgios Pharmaceuticals to present data at 20th Congress of EHA
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May 19, 2015
08:17 EDTCELGCelgene says patients experienced clinical remission in Phase II GED-0301 trial
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May 18, 2015
08:44 EDTCELGCelgene data positive, says SunTrust
SunTrust believes that data presented for Celgene's GED-0301 in Crohn's indicated that the drug is effective irrespective of baseline disease severity and CRP levels.Consequently, the firm thinks the data addressed questions raised in an NEJM editorial about the drug. It keeps a $141 price target and Buy rating on the shares.
07:31 EDTCELGCelgene, Acceleron granted fast track designations for luspatercept
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May 14, 2015
11:11 EDTCELGAnalysts divided on significance of Celgene blood cancer drug data
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