Stock Update (NASDAQ: CELG): Celgene Receives Positive CHMP Opinion for ABRAXANE® for First-Line Treatment of Patients with Non-Small Cell Lung Cancer

(BUSINESS WIRE)– Celgene International Sàrl, a wholly owned subsidiary of Celgene Corporation (NASDAQ:CELG), today announced that the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) has adopted a positive opinion for ABRAXANE® (paclitaxel formulated as albumin-bound nanoparticles, or nab-paclitaxel) in combination with carboplatin for the first-line treatment of non-small cell lung cancer in adult patients who are not candidates for potentially curative surgery and/or radiation therapy… Read more »

Shares of Celgene Corporation closed yesterday at $123.71 . CELG has a 1-year high of $123.87 and a 1-year low of $66.85. The stock’s 50-day moving average is $115.42 and it’s 200-day moving average is $100.02.

On the ratings front, Celgene Corporation has been the subject of a number of recent research reports. In a report published on January 13, analyst Mara Goldstein from Cantor Fitzgerald maintained a Buy rating on CELG, with a price target of $131, which represents a potential upside of 5.9% from where the stock is currently trading. Separately, on January 12, J.P. Morgan’s Cory Kasimov reiterated a Hold rating on Celgene Corporation shares .

In total, one research analyst has assigned a Hold rating and 10 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 $123.71 which is 0.8% above where the stock closed yesterday.

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.

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