Saying Revlimid maintenance could become the treatment of choice for front-line myeloma, Jefferies sees a strong future for Celgene (NASDAQ:CELG).
Even so, at current valuation, Jefferies believes it'll "require overall survival maturity of Revlimid maintenance trials, resolution of the Revlimid patent overhang, or success with earlier stage pipeline programs," to see major upside for the company.
Jefferies reiterates a "Buy" rating on Celgene, which closed Friday at $51.18, losing $3.67, or 6.69 percent. Jefferies lowered their price target on Celgene from $67 to $65.
I think Jefferies should reconsider their "buy" recommendation after the recent ASH meeting that presented clinical studies showing that Revlimid maintenance therapy caused secondary cancers.-
ReplyDeletehttp://www.myelomabeacon.com/news/2011/01/31/revlimid-lenalidomide-maintenance-and-secondary-cancers-in-multiple-myeloma-patients-more-details-emerge/
David Emerson
peoplebeatingcancer.org