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Goldman bearish on Celgene

Published 05/25/2018, 08:48 AM
© Reuters.  Goldman bearish on Celgene
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  • In a note, Goldman Sachs (NYSE:GS)' 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
  • Now read: Mining For ASCO 2018's Gold, Part 2: Some Studies Trend Toward Negative


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