Credit Suisse on Celgene Corp, Views as "Underappreictaed"

In a research note released Tuesday, Credit Suisse analyst R. Mehrota increased his price target from $210 to $225 on Celgene Corp.

. In addition, the analyst is reiterating an outperform rating on the company. The analyst believes that Celgene's current pipeline potential is underappreciated, and sees a 40 percent potential upside in six months. “While the company's patent challenge has been the main focus of investors, Celgene's pipeline is not being priced into the multiple and represents asymmetric risk on the upside.” The analyst continued by saying that Celgene is currently benefiting from three key aspects or themes pipeline call, domain domination, and return to growth. “GED-0301 could be a multi-blockbuster category killer,” one of Celgene's drugs in its pipeline. Domain domination is where the company strategies to achieve greater company research and development, this can also result in multiple expansion. Shares of the company are up five percent on Thursday and are down one percent year-to-date.