Oppenheimer analyst Leah R. Cann maintained a Buy rating on Celgene (NASDAQ: CELG) today and set a price target of $163. The company’s shares opened today at $87.10.
“The data presented today, showing a meaningful improvement in outcomes important to patients with moderate to severe plaque psoriasis, supports our outlook for Otezla. These positive sub-analyses of UNVEIL and ESTEEM have outcomes in patients who experience important manifestations of nails and scalp. The overall positive data are for the moderate to severe setting, an important segment of the 2.5-million-patient psoriasis market and which offers a large market opportunity for Celgene.”
According to TipRanks.com, Cann is a 5-star analyst with an average return of 21.7% and a 52.9% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, Miragen Therapeutics Inc, and CytomX Therapeutics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Celgene with a $121.78 average price target.
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Celgene’s market cap is currently $61.29B and has a P/E ratio of 23.96. The company has a Price to Book ratio of 17.87.
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is neutral on the stock.
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Celgene Corp. is an integrated global biopharmaceutical company, which engages in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases. Its targeting areas include intracellular signaling pathways, protein homeostasis and epigenetics in cancer and immune cells, immunomodulation in cancer and autoimmune diseases and therapeutic application of cell therapies. The company’s products include Revlimid, Vidaza, Thalomid, Pomalyst/Imnovid, Abraxane, and Istodax. Celgene was founded by David Stirling and Sol Barer in 1986 and is headquartered in Summit, NJ.