Stock Update (NASDAQ:CELG): Celgene Corporation Announces New Data to be Presented at European League Against Rheumatism Annual Congress

Celgene International Sàrl, a wholly-owned subsidiary of Celgene Corporation (NASDAQ:CELG), announced that data from 11 abstracts (two oral presentations, six poster presentations and three published in The Abstract Book) evaluating Celgene investigational and marketed products will be presented at the European League Against Rheumatism (EULAR) Annual Congress in Rome, Italy, June 10 – 13, 2015. The data will include the latest research findings on Otezla® (apremilast), the Company’s oral, selective inhibitor of phosphodiesterase 4 (PDE4), in psoriatic arthritis and plaque psoriasis, as well as CC-220, an investigational immunomodulatory compound for systemic lupus erythematosus (lupus).

Among the data presented will be long-term (104-week) results from Celgene’s PALACE program, including pooled results of three phase III trials (PALACE 1, 2 and 3) assessing the effects of OTEZLA on two distinct manifestations of psoriatic arthritis – enthesitis (inflammation at sites where tendons or ligaments insert into bone) and dactylitis (inflammation of an entire digit). Additional analyses of PALACE trials will evaluate long-term safety and efficacy of OTEZLA in patients with active psoriatic arthritis, as well as the impact of OTEZLA on work productivity and physical function in these patients.

Data will also be presented on the effect of CC-220 on blood cell levels of Ikaros and Aiolos – transcription factors that, when mutated, are associated with an increased risk of systemic lupus erythematosus. The presentation will include phase I data on the impact of CC-220 on the immune response in healthy volunteers. Additional preclinical studies on CC-220 in lupus will be presented.

“We are excited about the presentation of these new long-term data of OTEZLA in psoriatic arthritis at EULAR. Additionally, data presented on our investigational compound CC-220 provide one example of the depth of Celgene’s clinical trial programs in other serious inflammatory diseases with high unmet medical need, including lupus,” said Scott Smith, President, Celgene Inflammation & Immunology. “We remain committed to further developing our new and existing therapies to provide innovative treatment options for patients living with painful, debilitating chronic immune conditions.”

Celgene will also host a variety of educational programs during the Congress on the unmet needs of patients with psoriatic arthritis, including a symposium for healthcare professionals as well as programs for patient/professional advocacy organizations and media. (Original Source)

Shares of Celgene Corporation closed yesterday at $113.88 . CELG has a 1-year high of $129.06 and a 1-year low of $76.90. The stock’s 50-day moving average is $114.19 and its 200-day moving average is $116.24.

On the ratings front, Celgene Corporation has been the subject of a number of recent research reports. In a report issued on June 1, J.P. Morgan analyst Cory Kasimov reiterated a Hold rating on CELG. Separately, on May 28, BMO’s Jim Birchenough maintained a Buy rating on the stock and has a price target of $163.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Cory Kasimov and Jim Birchenough have a total average return of 14.3% and 41.0% respectively. Kasimov has a success rate of 65.8% and is ranked #194 out of 3610 analysts, while Birchenough has a success rate of 63.9% and is ranked #17.

In total, 2 research analysts have assigned a Hold rating and 6 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 $146.00 which is 28.2% 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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