BioCentury on BioBusiness,
Analyst Picks & Changes
Analyst picks and changes
Published on
Monday, June 25, 2012
|
Company
|
Bank
|
Analyst
|
Coverage
|
Opinion
|
Wk
chg
|
6/22
cls
|
|
Celgene
Corp. (NASDAQ:CELG)
|
Baird
|
Christopher
Raymond
|
Price
target
|
Outperform
|
-7%
|
$61.63
|
|
|
Barclays
Capital
|
Ying
Huang
|
Price
target
|
Overweight
|
|
|
|
|
Jefferies
|
Thomas
Wei
|
Price
target
|
Buy
|
|
|
|
|
RBC
Capital Markets
|
Michael
Yee
|
Downgrade
|
Sector
perform (from outperform)
|
|
|
|
|
Summer
Street
|
Carol
Werther
|
Price
target
|
Buy
|
|
|
|
Raymond
lowered his target to $78 from $81 after Celgene withdrew a European
application to extend the label for Revlimid lenalidomide to include
front-line maintenance treatment for multiple myeloma (MM) (see "Buy
on Softness," A17). He lowered his Revlimid sales estimates to
$3.78B from $3.81B for 2012 and to $4.26B from $4.41B for 2013. Revlimid, a
thalidomide analog, is approved in Europe in combination with dexamethasone
to treat MM patients who have received at least one prior therapy.
|
|
Huang
lowered his target to $74 from $83 on the regulatory setback. He noted that
there is "no clarity" on when the long-term follow-up data from
Celgene's ongoing Revlimid trials will be mature enough for CHMP to make a
benefit-risk decision for the MM drug for maintenance therapy.
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176
words displayed of
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