Jefferies Maintains Buy, $72 PT on Celgene

Jefferies reiterates its Buy rating and $72 price target on Celgene (NASDAQ: CELG) as ASH provides final feedback on Revlimid and Pomalidomide.

Jefferies notes, “Based on feedback at ASH, we continue to model that Revlimid may receive a limited indication in Europe of transplant-ineligible patients less than 75 years old. We continue to believe that a full label would follow shortly in 2014. This has little impact on our positive valuation stance on CELG”

CELG closed at $63.96 per share on Tuesday.