Celgene Corporation (NASDAQ:CELG) announced that multiple studies being presented at the San Antonio Breast Cancer Symposium will highlight the investigational use of ABRAXANE® for Injectable Suspension (paclitaxel protein-bound particles for injectable suspension) (albumin-bound) as neoadjuvant therapy in high-risk early breast cancer and in combination with a platinum in triple-negative breast cancer. Additionally, studies will evaluate ABRAXANE as a potential backbone of therapy with new immune-oncology agents.
“The studies being presented at the San Antonio Breast Cancer Symposium this year support continued research into ABRAXANE as a taxane to combine with other agents in triple-negative breast cancer in both early and metastatic disease,” said Jacqualyn A. Fouse, Ph.D., President, Hematology/Oncology for Celgene. “Our research efforts in this disease area underscore our ongoing commitment to patients who have few new therapeutic options.”
Studies being presented include:
- P1-14-11– New results from the neoadjuvant randomized GeparSepto study (GBG 69) of nab-paclitaxel at a dose of 125mg/m2 weekly compared to 150mg/m2 – December 9, 5 p.m. (Hall A-B) .
- P2-11-06 – Safety and clinical activity of atezolizumab (anti-PDL1) in combination with nab-paclitaxel in patients with metastatic triple-negative breast cancer – December 10, 7:30 a.m. (Hall A-B)
- S6-07 – Comparison of 12 weeks neoadjuvant nab-paclitaxel combined with carboplatinum vs. gemcitabine in triple-negative breast cancer: WSG-ADAPT TN randomized phase II trial – December 11, 4:45 p.m. (Hall D)(Original Source)
Shares of Celgene Corporation closed yesterday at $112.05, up $3.00 or 2.75%. CELG has a 1-year high of $140.72 and a 1-year low of $92.98. The stock’s 50-day moving average is $115.82 and its 200-day moving average is $119.43.
On the ratings front, Celgene has been the subject of a number of recent research reports. In a report issued on December 7, Cantor Fitzgerald analyst Mara Goldstein maintained a Buy rating on CELG, with a price target of $163, which represents a potential upside of 45.5% from where the stock is currently trading. Separately, on December 1, Jefferies Co.’s Brian Abrahams reiterated a Buy rating on the stock and has a price target of $141.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Mara Goldstein and Brian Abrahams have a total average return of -3.4% and 24.9% respectively. Goldstein has a success rate of 37.0% and is ranked #3171 out of 3640 analysts, while Abrahams has a success rate of 64.7% and is ranked #119.
The street is mostly Bullish on CELG stock. Out of 7 analysts who cover the stock, 7 suggest a Buy rating . The 12-month average price target assigned to the stock is $147.00, which represents a potential upside of 31.2% from where the stock is currently trading.
Celgene Corp is a biopharmaceutical company. It is engaged in the discovery, development and commercialization of therapies designed to treat cancer and immune-inflammatory related diseases.