Piper Jaffray analyst Joshua Schimmer noted that Celgene reported lower than consensus Q1 revenue and revised its 2016 and 2017 guidance, with the "main message" being that Revlimid is a stronger driver of long-term growth while Abraxane is a weaker driver. Schimmer lowered his terminal growth rate expectation to 2.5% from 3% to reflect increasing reliance on Revlimid, which he notes goes generic starting slowly in 2022, and trimmed his price target to $145 from $163. Schimmer, who keeps an Overweight rating on the stock, said the next 24 months "will be critical for gauging how much life" Celgene has after Revlimid.