Market Overview

Vetr Upgrades Celgene After Drug Trial Stalls

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The Vetr crowd on Monday upgraded its rating on Celgene Corporation (NASDAQ: CELG) from 3 stars (Buy) issued 16 days ago, to 5 stars (Strong Buy). Crowd sentiment at the time of the upgrade was unanimously positive, with 100 percent of Vetr user ratings bullish.

Vetr's upgrade comes on the heels of biotech's announcement that it would be discontinuing trials of its crohn's disease drug treatment. Following the news, analysts with Baird and Piper Jaffray downgraded the stock while a slew of others, including analysts with UBS and Barclays, lowered their outlook on the company.

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Currently, the Vetr crowd's average price target on Celgene is up at $144.39, which is above the average analyst price target of $140.50. Less than 2 percent of Vetr users are holding CELG in their watch-lists.

Latest Ratings for CELG

DateFirmActionFromTo
Nov 2019Standpoint ResearchDowngradesBuyHold
Nov 2019BairdDowngradesOutperformNeutral
May 2019BarclaysDowngradesOverweightEqual-Weight

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Posted-In: VetrUpgrades Price Target Crowdsourcing Analyst Ratings General

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