Celgene "buy"

04/04/07 - Lazard Capital Markets

NEW YORK, April 4 (newratings.com) - Analysts at Lazard Capital maintain their "buy" rating on Celgene Corporation (CELG). The target price is set to $70.

In a research note published this morning, the analysts mention that the company has recently reaffirmed that the ECOG E4A03 trial points towards a survival benefit for low-dose dex/Revlimid combination, as compared to the standard-dose dex/ Revlimid in the front-line multiple myeloma. Lazard Capital adds, however, that the trends, as exhibited in the trial, are significant enough to justify halting the trial. There is still some uncertainty regarding the timeline for an expanded label for front-line myeloma, the analysts say.