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Vetr Upgrades Celgene After Drug Trial Stalls

Chris Dier-Scalise

The Vetr crowd on Monday upgraded its rating on Celgene Corporation (NASDAQ: CELG) from 3 stars (Buy) issued 16 days ago, to 5 stars (Strong Buy). Crowd sentiment at the time of the upgrade was unanimously positive, with 100 percent of Vetr user ratings bullish.

Vetr's upgrade comes on the heels of biotech's announcement that it would be discontinuing trials of its crohn's disease drug treatment. Following the news, analysts with Baird and Piper Jaffray downgraded the stock while a slew of others, including analysts with UBS and Barclays, lowered their outlook on the company.

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Currently, the Vetr crowd's average price target on Celgene is up at $144.39, which is above the average analyst price target of $140.50. Less than 2 percent of Vetr users are holding CELG in their watch-lists.

Latest Ratings for CELG

Date Firm Action From To
Oct 2017 Guggenheim Initiates Coverage On Buy
Oct 2017 Morgan Stanley Maintains Underweight
Oct 2017 PiperJaffray Assumes Overweight Neutral

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