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12:00 AM
Aug 10, 2009
 |  BioCentury  |  Analyst Picks & Changes

Analyst picks & changes

Analyst picks & changes

Company Bank Analyst Coverage Opinion Wk chg 8/7 cls
Celgene Corp. (NASDAQ:CELG) Cowen Eric Schmidt Downgrade Underperform (from neutral) -4% $54.92
Schmidt downgraded based on concerns over valuation and the company's ability to meet consensus revenue and earnings expectations. He also expects more discussion over the next 12-18 months around the potential for generic threats to Celgene's drugs, including "likely" ANDA filings on multiple myeloma (MM) drug Revlimid lenalidomide. He expects Celgene to underperfom the market by over 20% during the next 12 months.
Cephalon Inc. (NASDAQ:CEPH) Jefferies David Windley Price target Buy -3% $56.61
Windley lowered his target to $73 from $79 after lowering his 2009 sales estimates for Amrix, a once-daily extended-release formulation of cyclobenzaprine for muscle spasms, by $15M to $124M and for Treanda, an alkylating agent for non-Hodgkin's lymphoma (NHL) and chronic lymphocytic leukemia (CLL), by $38M to $251M.
Genzyme Corp. (NASDAQ:GENZ) UBS Maged Shenouda Downgrade Neutral (from buy) ...

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