BMO: Celgene Still A Buy On This 'Important Future Driver'

Loading...
Loading...
In a report published Thursday, BMO Capital analyst Jim Birchenough maintained his Outperform rating on Celgene Corporation
CELG
, with a price target of $163. "An early online publication by Celgene (CELG) for pleiotropic modulator CC- 122 in
Blood
suggests that while sharing a common mechanism of action with other IMiDs, CC-122 has unique biology that is relevant for diffuse large B cell lymphoma (DLBCL)," Birchenough stated. The company has demonstrated that CC-122 acts on a broad range of DLBCL cell lines. CC-122 was able to induce a more significant decrease in the Ailios and Ikaros levels in the DLBCL cell lines than Revlimid. According to the BMO Capital report, "CELG also notes that CC-122 has striking activity against "double-hit" lymphoma cell lines, which are characterized by c-myc elevation, in combination with BCL2/6, which is considered highly treatment resistant." Given the broader spectrum of activity in the DLBCL, the analyst believes that CC-122 is likely to offer a treatment option that is not limited only to the cell of origin. About 30-40 percent of all BHL diagnoses are due to DLBCL. "RITUXAN immunochemotherapy is an effective front-line treatment; however, treatment for relapsed refractory disease remains sub-optimal with a five-year OS of about 50%, and the prognosis for particular molecular sub-types including double hit and ABC lymphomas remains poor," Birchenough added.
Loading...
Loading...
Posted In: Analyst ColorReiterationAnalyst RatingsBMO Capital
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...