UPDATE: Jefferies Raises PT on Celgene Following Multiple Myeloma Survey

In a report published Thursday, Jefferies analyst Thomas Wei reiterated a Buy rating on Celgene Corporation

, and raised the price target from $114.00 to $140.00. In the report, Wei noted, “We conducted a Medpanel survey of 59 U.S. physicians to determine opinions on current and future treatment options for multiple myeloma. Specifically, we found more favorable feedback on Pomalyst, as well as the potential for significant expansion of Revlimid frontline use. Based on our survey, we are raising our PT from $114 to $140.” Celgene Corporation closed on Wednesday at $120.81.