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Goldman bearish on Celgene

May 25, 2018 8:48 AM ETCelgene Corporation (CELG) StockCELGBy: Douglas W. House, SA News Editor36 Comments
  • In a note, Goldman Sachs' Terence Flynn (Sell/$81) says Celgene (NASDAQ:CELG) "needs to deliver" on a number of upcoming data readouts to de-risk future revenue to replace Revlimid and re-establish investor confidence in its capital allocation.
  • Key catalysts: luspatercept data mid-year, JCAR17 data in H2, Phase 1 data on bb2121 at ASCO in early June.
  • Data on pipeline candidates CC-220 and CC-92480, next-generation drugs for Revlimid and Pomalyst, may be presented at ASH in December.
  • Leerink's Geoffrey Porges (Outperform/$115) notes that investor concerns with the company's revenue in myeloma is the main reason for the continued erosion in share value.
  • Source: Bloomberg

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