Celgene To Surge By Double-Digits After Big Tumble, Vetr Crowd Says

Shares of Celgene Corporation CELG have had ups and downs this year, but have ultimately lost roughly 11 percent since January, and more than 5 percent over August alone.

Now, it seems like the Vetr crowd believes this has created an attractive entry point, as the stock looks ripe for a rebound. This is evidenced by the crowd’s average price target of $120.45, which implies a potential return of approximately 12.6 percent from current valuations.

Related Link: Here's How Crowdsourced Ratings Can Beat The Market

Seeking to better reflect this upside potential, the Vetr community decided to upgrade its rating on shares of Celgene on Wednesday, from 4.0 (Buy) to 4.5 stars (Strong Buy) — out of a possible five-star rating.

Finally, it should be noted that, relatively in accordance with the new rating, 78 percent of the crowd’s ratings are bullish at the time.

Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above.