UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Celgene Corporation
In a report published Monday, Jefferies & Company reiterated its Buy rating on Celgene Corporation (NASDAQ: CELG), and raised its price target from $91.00 to $94.00.
Jefferies noted, “CELG announced Abraxane met its overall survival primary endpoint in its Phase 3 pancreatic cancer study. We have long considered this indication to be risky and upside to our valuation. Adding pancreatic cancer to our valuation raises our price target from $91 to $94.”
Celgene Corporation closed on Friday at $71.50.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.