Celgene (CELG +0.5%) shrugs off a valuation downgrade by Jefferies earlier today to finish...

|About: Celgene Corporation (CELG)|By:, SA News Editor

Celgene (CELG +0.5%) shrugs off a valuation downgrade by Jefferies earlier today to finish higher. The stock took a beating yesterday on the back of a negative report by the European Medicines Agency regarding CELG's withdrawal of its application for an expansion of its multiple myeloma treatment Revlimid. Investors are discouraged by the report's lack of a clear path toward gaining approval.