Canaccord analyst John Newman was out pounding the table on Celgene Corporation (NASDAQ:CELG) Friday, reiterating a Buy rating and price target of $156, which represents a potential upside of 54% from where the stock is currently trading.

After doing some marketing with management, Newman provided some key takeaways: “Management maintained an appropriately measured view into Phase 3 REMARC data for Revlimid, which we believe is appropriate given the cooperative group nature of the study. Importantly, REMARC is one of five Revlimid + Rituxan or R2 studies in Lymphoma, and any potential shortcomings for REMARC would not necessarily be translatable to the other four Celgene-sponsored studies.”

Furthermore, “Management maintained a positive view for Otezlas value proposition and “pre-biologic” positioning, and acknowledged that this paradigm may ultimately extend beyond psoriasis. In our view, any indication where Otezla shows meaningful efficacy vs. a biologic alternative represents upside due to lower pricing and oral dosing. Specifically, we view the Atopic Dermatitis opportunity as interesting, and await additional data during 2016.”

Finally, “Celgene was very positive on the recent POLLUX data for Revlimid+daratumumab presented at EHA, suggesting to us that Revlimid may perform better than expected in the relapsed refractory setting, even after front-line treatment with Revlimid.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst John Newman has a yearly average return of -18.7% and a 26.5% success rate. Newman has a -14.1% average return when recommending CELG, and is ranked #3914 out of 4001 analysts.

Out of the 24 analysts polled by TipRanks, 20 rate Celgene stock a Buy, while 4 rate the stock a Hold. With a return potential of 41.1%, the stock’s consensus target price stands at $142.53.