Vetr Crowd Downgrades Celgene

The Vetr community on Monday downgraded Celgene Corporation (NASDAQ: CELG) from 4.5 stars (Strong Buy) to 4 stars (Buy). Crowd confidence was very bullish, with 100 percent of the Vetr community reporting a Buy position on the stock.

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This upgrade came with news that Celgene would be acquiring Juno Therapeutics Inc (NASDAQ: JUNO) for $9 billion in an effort to expand its cancer treatment efforts.

Despite the downgrade, the Vetr crowd remained bullish, setting a target price of $114.80, which sits well above the current share price of $102.94. Analysts were equally as bullish, with most recent estimates sitting in the $120-$160 range.