Company Update (NASDAQ:CELG): Celgene Corporation Announces Acceptance of Late Breaking GED-0301 CD-001 Abstract at the UEGW Meeting

Celgene Corporation (NASDAQ:CELG) announced that the data from a randomized, double-blind, multicenter, exploratory phase Ib study evaluating the effects of oral GED-0301 (mongersen) on both endoscopic and clinical outcomes in patients with active Crohn’s disease were accepted as a late breaking abstract at the United European Gastroenterology Week. The data are to be presented on October 18, 2016 at 6:27 a.m. ET. (Original Source)

Shares of Celgene Corporation closed yesterday at $104.27, down $0.26 or -0.25%. CELG has a 1-year high of $128.39 and a 1-year low of $93.05. The stock’s 50-day moving average is $108.36 and its 200-day moving average is $105.46.

On the ratings front, Celgene has been the subject of a number of recent research reports. In a report issued on September 30, BMO analyst Ian Somaiya reiterated a Buy rating on CELG, with a price target of $141, which represents a potential upside of 35% from where the stock is currently trading. Separately, on September 29, Citigroup’s Robyn Karnauskas maintained a Buy rating on the stock and has a price target of $127.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ian Somaiya and Robyn Karnauskas have a total average return of 13.9% and 6.3% respectively. Somaiya has a success rate of 54% and is ranked #252 out of 4197 analysts, while Karnauskas has a success rate of 54% and is ranked #537.

Overall, 3 research analysts have assigned a Hold rating and 17 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $137.80 which is 32% above where the stock closed yesterday.

Celgene Corp. is an integrated global biopharmaceutical company engaged primarily in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through gene and protein regulation. 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. 


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