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Fly News Breaks for July 15, 2015
RCPT, CELG
Jul 15, 2015 | 07:55 EDT
UBS believes Celgene's (CELG) acquisition of Receptos (RCPT) is a "great deal on a great asset" as it adds a high quality long-term growth asset that is big enough to help the company in the area of its clinical and commercial expertise. The firm noted that its only worry for Celgene about the deal was the potential for another strategic suitor to come in with a higher offer. UBS reiterated its Buy rating and raised its price target to $142 from $130 on Celgene shares.
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