UPDATE: Auriga Maintains Buy, Lowers PT to $82 on Celgene

Auriga reiterates its Buy rating on Celgene (NASDAQ: CELG) as company guidance surpasses street consensus.

Auriga says, "We believe the guidance, while not an easy goal to hit, is achievable if management tightly controls expenses. We are eager to learn more about the cost side of the business at the scheduled conference call on January 26 at 9AM ET. We revised our EPS estimates downward slightly from $4.83 to $4.79 while applying a higher P/E multiple of 17x for the peer group, and we obtain a price target of $82."

CELG closed at $73.32 per share on Thursday.