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4-Traders Homepage  >  Equities  >  Nasdaq  >  Celgene Corporation    CELG

Delayed Quote. Delayed  - 10/23 10:00:00 pm
122.37 USD   +0.86%
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Celgene Corporation : Today's Research Reports on Stocks to Watch: Celgene Corporation and Acceleron Pharma

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10/02/2017 | 02:11pm CEST

NEW YORK, NY / ACCESSWIRE / October 2, 2017 / Celgene and Acceleron both saw their share prices head higher this past Friday after it was learned that Celgene has purchased 750,000 more shares of Acceleron in a public offering. The two companies are partners in a lead program for Luspatercept. Luspatercept is in phase 3 trials for myelodysplastic syndromes and beta-thalassemia, and will remain "our number one priority for the next three years," said Acceleron CEO Habib Dable.

RDI Initiates Coverage on:

Celgene Corporation
https://rdinvesting.com/news/?ticker=CELG

Acceleron Pharma Inc.
https://rdinvesting.com/news/?ticker=XLRN

Celgene Corporation's shares closed up 2.14% this past Friday and came 13 cents shy of hitting their 52-week high. The biopharma company is the largest holder of Acceleron Pharma and is a partner for the company's lead program, Luspatercept, and for sotatercept. It was revealed last week that Celgene purchased 750,000 shares of Acceleron for $28 million. In other news, Celgene and Health2047 have agreed to collaborate to build a data transfer tool for healthcare. Health2047's CEO Dr. Doug GIven said that Celgene is the first of many collaboration partners that will be announced this year. "We are establishing a platform for data transfer with features that are important to Celgene. We have a joint strategy and joint project development teams. We're building apps to address their business needs," he stated.

Access RDI's Celgene Corporation Research Report at:
https://rdinvesting.com/news/?ticker=CELG

Acceleron Pharma Inc.'s shares closed up 4.27% on Friday with about 750,000 shares traded. Celgene made a big purchase in the company. The biotech purchased 750,000 shares of Acceleron in a public offering for $28million. Celgene is still Accerlones largest shareholder and is a partner in a lead program for Luspatercept and Sotatercept. Luspatercept is a potentially first-in-class anemia treatment for MDS and beta-thalassemia that is being developed by Acceleron Pharma in collaboration with Celgene. Sotatercept is also jointly developed with partner Celgene for the treatment of diseases in which anemia is common, but recently the companies changed the amendment of their agreement to give Acceleron the right to develop the drug for pulmonary diseases. CEO Habib Dable recently commented, "Sotatercept will be the lead family in our new pulmonary disease franchise."

Access RDI's Acceleron Pharma Inc. Research Report at:
https://rdinvesting.com/news/?ticker=XLRN

Our Actionable Research on Celgene Corporation (NASDAQ: CELG) and Acceleron Pharma Inc. (NASDAQ: XLRN) can be downloaded free of charge at Research Driven Investing.

Research Driven Investing

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

CONTACT

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SOURCE: RDInvesting.com


© Accesswire 2017
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Financials ($)
Sales 2017 13 226 M
EBIT 2017 7 429 M
Net income 2017 4 475 M
Debt 2017 3 949 M
Yield 2017 -
P/E ratio 2017 22,00
P/E ratio 2018 16,80
EV / Sales 2017 7,54x
EV / Sales 2018 6,14x
Capitalization 95 736 M
Chart CELGENE CORPORATION
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Celgene Corporation Technical Analysis Chart | CELG | US1510201049 | 4-Traders
Technical analysis trends CELGENE CORPORATION
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 148 $
Spread / Average Target 21%
EPS Revisions
Managers
NameTitle
Mark J. Alles Chief Executive Officer & Director
Scott Andrew Smith President & Chief Operating Officer
Robert J. Hugin Executive Chairman
Peter N. Kellogg Chief Financial Officer & Executive Vice President
Joseph S. Camardo Senior Vice President-Global Medical Affairs
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