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Celgene Corporation Message Board

  • padakri padakri Dec 28, 2005 9:40 PM Flag

    CELG Upgraded to Buy with 71 - S&P

    Celgene (CELG ): Upgrades to 4 STARS (buy) from 3 STARS (hold)
    Analyst: Frank DiLorenzo, CFA
    The FDA okays Revlimid to treat patients with transfusion-dependent anemia from low- or intermediate-1-risk myelodysplastic syndromes associated with deletion 5q abnormality. We expect FDA approval in multiple myeloma by mid-2006, and we project Revlimid sales of $173 million for 2006. After option expense, we still see 2006 earnings per share at 79 cents, but are raising 2007's to $1.54 from $1.14. Based on our net par value analysis, which assumes approval of Revlimid in multiple myeloma and peak U.S. Thalomid/Revlimid sales of $1.9 billion by 2012, we are raising our 12-month target price to $71 from $67.

 
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