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CELG

Celgene

$91.02

-0.08 (-0.09%)

07:49
04/19/18
04/19
07:49
04/19/18
07:49

Celgene: Longest-standing director Gilla Kaplan retiring from board

Celgene Corporation announced changes to its Board of Directors. Gilla Kaplan, Ph.D., Celgene's longest-standing Director, is retiring from the Board and will not stand for reelection at the upcoming Annual Meeting of Stockholders to be held on June 13, 2018. Patricia "Pat" Hemingway Hall and Hans Bishop have been elected to Celgene's Board of Directors. Dr. Kaplan has served as Director since April 1998.

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CELG Celgene
$91.02

-0.08 (-0.09%)

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.
04/13/18
MSCO
04/13/18
INITIATION
Target $93
MSCO
Equal Weight
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.
04/13/18
04/13/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Dropbox (DBX) initiated with a Reduce at Nomura Instinet. 2. Horizon Global (HZN) initiated with a Buy at B. Riley FBR. 3. Sonoco Products (SON) initiated with a Buy at UBS. 4. Campbell Soup (CPB) reinstated with a Sell at Goldman Sachs. 5. Celgene (CELG) resumed with an Equal Weight at Morgan Stanley. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

NFLX

Netflix

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17.61 (5.03%)

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TLRY

Tilray

$154.99

34.79 (28.94%)

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AMD

AMD

$31.93

-0.51 (-1.57%)

, FTV

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$87.39

0.25 (0.29%)

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AZO

AutoZone

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TLRY

Tilray

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34.79 (28.94%)

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TROW

T. Rowe Price

$109.29

0.3 (0.28%)

08:53
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HEAR

Turtle Beach

$17.75

-1.55 (-8.03%)

08:49
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LEA

Lear

$154.96

-2.2 (-1.40%)

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TNDM

TNDM

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Tandem Diabetes management to meet with Oppenheimer »

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GWPH

GW Pharmaceuticals

$149.14

8.165 (5.79%)

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TFX

Teleflex

$269.03

1.81 (0.68%)

08:46
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Teleflex management to meet with Stephens »

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NVS

Novartis

$85.03

-0.1 (-0.12%)

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SPWH

Sportsman's Warehouse

$6.15

-0.02 (-0.32%)

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SSC

Seven Stars Cloud Group

$4.38

-0.3 (-6.41%)

, CBL

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$4.34

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ATHN

Athenahealth

$135.25

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SEIC

SEI Investments

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