Market Overview

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

Share:
Related CELG
Orphan Drugs Among 2015's Top 10 Best-Selling Medications
Oppenheimer Upgrades Agios Pharma On Expectations For First Drug Launch
TheStreet's Feuerstein says Celgene should gobble up Biogen (Seeking Alpha)

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
Nov 2016OppenheimerInitiates Coverage OnOutperform
Nov 2016Standpoint ResearchDowngradesBuyHold
Nov 2016MizuhoInitiates Coverage OnBuy

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)

View Comments and Join the Discussion!