Cantor Fitzgerald Remains Positive on Celgene Corporation (CELG) Following Collaboration with Juno Therapeutics Inc (JUNO)
Cantor Fitzgerald analyst Mara Goldstein weighed in with a few of her opinions on Celgene Corporation (NASDAQ:CELG) following the company’s $1 billion collaboration with Juno Therapeutics Inc (NASDAQ:JUNO) for access to CAR-T therapies to up its immune-oncology exposure. Goldstein reiterated a Buy rating on the stock with a price target of $1465. Shares of CELG closed yesterday at $114.91, down $3.01, or -2.55%.
Goldstein believes that the acquisition further solidifies Celgene’s position in oncology, providing the company with access to potentially disruptive technology. Price tag aside, the analyst believes that the move advances Celgene’s efforts to consolidate technology in oncology, adding to the recent checkpoint inhibitor deal with AstraZeneca, and other relationships.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Mara Goldstein has a total average return of 15.6% and a 60.3% success rate. Goldstein has a 26.9% average return when recommending CELG, and is ranked #286 out of 3684 analysts.