Drug giant Celgene Corporation (NASDAQ:CELG) just came in strong this second quarter, thanks to great performances from pipeline drugs lymphoma treating Revlimid and Pomalyst, a treatment that in assistance with dexamethasone helps patients with multiple myeloma. Even with cautionary guidance, considering volume growth is seeing a bolstered increase of 16%, Morgan Stanley analyst Matthew Harrison forecasts momentum to carry Celgene into another solid next third quarter.

Harrison reiterates a Hold with a price target of $120.00, marking a nearly 7% slight upside from there the stock is currently trading. Harrison notes, “While the guidance bump was modest in light of the bottom line beat ($0.06 beat and $0.075 increase in guidance at the midpoint), it is enough to maintain investor interest given the focus on key 2H data readouts, especially from GED-0301.” Driving revenue momentum of $60 million to beat expectations, Revlimid sales reached $1,701 million as opposed to projected $1,662 million, and Pomalyst reached $318 million, above the expected $302 million. Meanwhile, other drugs like Abraxane, above consensus by $6 million, and Otezla, above consensus by $4 million, modestly beat the Street’s estimates.

Topline 12-week data for GED-0301 is anticipated next quarter and expected to be showcased at a medical conference, likely during United European Gastroenterology (EUG) week this coming October. For Harrison, ultimately, “The quarter demonstrated the continued performance of Revlimid with a strong EU launch on-going and both US and EU duration of use growing. While we remain cautious on the ultimate GED-0301 data, we do expect CELG to continue to move higher into the data expected by the end of 3Q16.”

According to TipRanks, Matthew Harrison is ranked #1,197 out of 4,085 analysts. Harrison has a present success rate of 58% based on 76 ratings so far and averages 3% in his returns.

TipRanks analytics show CELG is a Strong Buy. Based on 17 analysts who have offered recommendations in the past 3 months, 82% rate a Buy, with 18% maintaining a Hold. The 12-month average price target is $144.92, marking a 29% upside.Screen Shot 07-31-16 at 10.59 PM

Read More: 2Q Highlights: Piper Jaffray Weighs In on Celgene Corporation