Market Overview

UPDATE: Stifel Nicolaus Raises PT to $108 on Celgene Corporation on Abraxane Outlook

Share:
Related CELG
Morgan Stanley Raises Price Target On Celgene, Still Highlights Several Risks
Wall Street Mixed On Biogen Before Earnings
Teva Drops Mylan Chase To Buy Allergan Generics Unit (Investor's Business Daily)

Stifel Nicolaus reiterated its Buy rating on Celgene Corporation (NASDAQ: CELG) and raised the price target from $98.00 to $108.00.

Stifel Nicolaus commented, "We raise our target price from $98 to $108 as our increased Abraxane sales estimates improve our outlook for long-term EPS growth. We raise our PEG ratio-based valuation multiple on CELG earnings from 17.7x to 19.4x, in line with our valuations for other large-cap biotech comparables. Our total Abraxane sales estimates of $1.17B in 2015 and $1.68B in 2017 are in line with CELG guidance of $1.0-$1.25B and $1.5-$2.0B, respectively."

Celgene Corporation closed at $99.31 on Tuesday.

Latest Ratings for CELG

DateFirmActionFromTo
Jul 2015Morgan StanleyMaintainsEqual-weight
Jul 2015Canaccord GenuityMaintainsBuy
Jul 2015Piper JaffrayMaintainsOverweight

View More Analyst Ratings for CELG
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (CELG)

Get Benzinga's Newsletters