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Fly News Breaks for May 1, 2015
CELG
May 1, 2015 | 08:04 EDT
Bernstein says that Celgene's Q1 results were "predictably soft," but the firm expects the company's growth to accelerate during the rest of 2015, and it predicts that Celgene's Revlimid and Otezia drugs will beat expectations. Bernstein thinks that worries about the company's patent battle over Revlimid are overblown, as it estimates that a negative outcome would only lower the company's stock price by a maximum of $2-$3 over the long-term. Bernstein keeps an Outperform rating on the shares.
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