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Fly News Breaks for July 21, 2015
RCPT, CELG
Jul 21, 2015 | 06:29 EDT
Piper Jaffray analyst Joshua Schimmer raised his price target for Celgene (CELG) to $160 citing the company's "strong" Q2 preannouncement and acquisition of Receptos (RCPT). Celgene is aggressively leveraging its balance sheet to create long-term revenue and earnings opportunities to offset Revlimid's eventual patent cliff, Schimmer tells investors in a research note. He says Celgene remains a top pick with an Overweight rating.
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