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CELG

Celgene

$89.74

1.03 (1.16%)

07:44
04/13/18
04/13
07:44
04/13/18
07:44

Celgene resumed with an Equal Weight at Morgan Stanley

Morgan Stanley analyst Matthew Harrison resumed coverage of Celgene with an Equal Weight rating and $93 price target, as he sees potential upside from cell therapies and luspatercept being balanced by the key risks that remain for both the ozanimod and fedratinib filings.

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CELG Celgene
$89.74

1.03 (1.16%)

03/27/18
EVER
03/27/18
NO CHANGE
Target $155
EVER
Outperform
Evercore sees higher chances of Revlimid patent settlement for Celgene
Evercore ISI analyst Umer Raffat believes the odds of a Revlimid patent settlement between Celgene (CELG) and Dr. Reddy's (RDY) have gone up "considerably" following a recent court filing. The filing, according to the analyst, shows Dr. Reddy's agreed to resolve claims construction issues, which he believes "implies a clear alignment in thought process between both sides." A potential settlement on Revlimid remains the biggest catalyst on Celgene in 2018, and could lead a quick re-rating in the valuation multiple, Raffat tells investors in a research note. He keeps Celgene as his top pick for 2018 with an Outperform rating and $155 price target.
03/28/18
03/28/18
NO CHANGE

Bluebird Bio and Celegene to co-develop bb2121 anti-BMCA therapy
Bluebird Bio (BLUE) and Celgene (CELG) announced that the companies have entered into an agreement to co-develop and co-promote bb2121, an investigational anti-B-cell maturation antigen, or BCMA chimeric antigen receptor, or CAR, T cell therapy for the potential treatment of patients with relapsed/refractory multiple myeloma in the United States.The companies originally entered into a broad, global strategic research collaboration in 2013 to discover, develop and commercialize novel therapies in oncology, which included bb2121.
03/28/18
LEER
03/28/18
NO CHANGE
Target $123
LEER
Outperform
Leerink sees 60% upside in Celgene shares under 'base case' scenario
Leerink analyst Geoffrey Porges says his sum-of-the-parts analysis suggests Celgene shares are discounting zero cash flow from Revlimid after 2022 and no approval ever of ozanimod or luspatercept. His "base case" scenario, which includes a slow revenue decline for Revlimid post 2022 and ozanimod's approval in multiple sclerosis during 2019 with a 50% probability of success in all indications, results in a net present value of $140 per share, which is 60% above the current share stock price. Celgene closed yesterday down $1.36 to $85.81. Porges' "worst case" scenario, which assumes no Revlimid contribution post 2022 and neither ozanimod nor luspatercept, has the stock worth $87. Celgene shares discounting "such a bad outlook" is no surprise after the company's "recent missteps and misjudgments," but the stock offers "remarkable upside" to investors willing to step in at the current "distressed" valuation," Porges tells investors in a research note. He keeps an Outperform rating on Celgene with a $123 price target.
04/03/18
JMPS
04/03/18
NO CHANGE
JMPS
Market Perform
Celgene COO departure not a surprise, says JMP Securities
JMP Securities analyst Michael King said he was not surprised by the announcement that Celgene COO Scott Smith is exiting given the recent missteps in the company's Inflammation and Immunology franchise. This appears to be the first major step in restructuring Celgene's executive team and he hopes the evolving management structure improves execution and accountability, King tells investors. Although valuation seems to be at extreme lows, King thinks Celgene shares will have a hard time recovering until the company can demonstrate it has regained its ability to drive value, either through execution or an acquisition. He keeps a Market Perform rating on the stock.

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NYSE Market Internals

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ISRG

Intuitive Surgical

$525.06

-2.61 (-0.49%)

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Intuitive Surgical options imply 6.4% move in share price post-earnings, above median historical move »

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WSM

Williams-Sonoma

$62.96

1.63 (2.66%)

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Upside call buyers in Williams Sonoma as shares rally »

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Conference/Events
Morgan Stanley economist/strategist to hold analyst/industry conference call »

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MRK

Merck

$62.68

-0.26 (-0.41%)

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MSFT

Microsoft

$104.59

-0.49 (-0.47%)

14:49
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Options
Microsoft options imply 4.8% move in share price post-earnings, above median historical move »

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ETP

Energy Transfer Partners

$20.14

0.74 (3.81%)

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Options
Energy Transfer Partners call volume above normal and directionally bullish »

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COF

Capital One

$95.79

-1.3 (-1.34%)

, SYF

Synchrony

$33.47

0.06 (0.18%)

14:41
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Periodicals
Head of U.S. card partnerships leaving Capital One, Bloomberg says »

Jimmy Cannon, executive…

COF

Capital One

$95.79

-1.3 (-1.34%)

SYF

Synchrony

$33.47

0.06 (0.18%)

WMT

Walmart

$88.10

0.01 (0.01%)

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FX Action: USD-JPY »

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HQY

HealthEquity

$81.82

0.31 (0.38%)

14:32
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HealthEquity analyst commentary  »

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GE

General Electric

$13.80

0.05 (0.36%)

, HON

Honeywell

$147.50

-1.65 (-1.11%)

14:32
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Earnings
Notable companies reporting before tomorrow's openGentex »

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GE

General Electric

$13.80

0.05 (0.36%)

HON

Honeywell

$147.50

-1.65 (-1.11%)

SLB

Schlumberger

$66.83

-0.24 (-0.36%)

BHGE

Baker Hughes

$32.10

-0.44 (-1.35%)

STT

State Street

$92.52

-2.82 (-2.96%)

VFC

VF Corp.

$89.22

1.01 (1.15%)

STI

SunTrust

$69.16

-0.69 (-0.99%)

SWK

Stanley Black & Decker

$139.18

0.91 (0.66%)

RF

Regions Financial

$17.75

-0.3 (-1.66%)

CFG

Citizens Financial

$40.62

-0.405 (-0.99%)

KSU

Kansas City Southern

$107.87

1.32 (1.24%)

GNTX

Gentex

$23.63

-0.195 (-0.82%)

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SKX

Skechers

$33.23

0.6 (1.84%)

14:30
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Notable spread in Skechers ahead of earnings »

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ISRG

Intuitive Surgical

$525.36

-2.31 (-0.44%)

14:29
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Earnings
On The Fly: What to watch in Intuitive Surgical earnings report »

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TSLA

Tesla

$321.44

-2.57 (-0.79%)

, PCRFY

Panasonic

$0.00

(0.00%)

14:28
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Periodicals
Panasonic suspends supplier of cobalt used in Tesla batteries, Reuters reports »

Panasonic (PCRFY), the…

TSLA

Tesla

$321.44

-2.57 (-0.79%)

PCRFY

Panasonic

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MSFT

Microsoft

$104.45

-0.63 (-0.60%)

, ISRG

Intuitive Surgical

$525.36

-2.31 (-0.44%)

14:27
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Notable companies reporting after market close »

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MSFT

Microsoft

$104.45

-0.63 (-0.60%)

ISRG

Intuitive Surgical

$525.36

-2.31 (-0.44%)

COF

Capital One

$95.69

-1.4 (-1.44%)

CTAS

Cintas

$193.16

0.62 (0.32%)

SWKS

Skyworks

$102.68

0.63 (0.62%)

ETFC

E-Trade

$61.35

-1.79 (-2.84%)

PBCT

People's United

$18.30

-0.04 (-0.22%)

SKX

Skechers

$33.25

0.62 (1.90%)

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ESV

Ensco

$7.02

-0.055 (-0.78%)

14:25
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Ensco call volume above normal and directionally bullish »

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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SPX

S&P 500

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SPDR S&P 500 ETF Trust

$280.59

-0.45 (-0.16%)

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White House says Trump not interfering with Fed policy decisions »

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MSFT

Microsoft

$104.73

-0.35 (-0.33%)

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Microsoft found hacking attempts against congressional candidates, Politico says »

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GTLS

Chart Industries

$76.20

8.23 (12.11%)

14:10
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Chart Industries analyst commentary  »

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