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Fly News Breaks for September 16, 2016
CELG
Sep 16, 2016 | 08:05 EDT
RBC Capital analyst Michael Yee says that Celgene's stock "can grind higher" as investors eventually understand that the company's GED-0301 drug could potentially generate $1B in revenue. Yee says endoscopy data the company is expected to present next month on GED-0301 "isn't likely to be impressive." However, he thinks the data will "suggest that the drug is working," and he says that investor expectations are low, while the recent pullback in the shares has created an attractive entry point.
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