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just out "Bernstein believes that delayed E.U. approval was already priced into the stock. Outperform. New Target $83"
Celgene stock priced in delayed European Revlimid approval, says Bernstein
After Celgene said it is withdrawing Revlimid's front line and maintenance applications from Europe, Bernstein believes that delayed E.U. approval was already priced into the stock. The firm expects the E.U. to approve the drug in the long-term, but Bernstein reduced its target on the shares to $83 from $98 while maintaining an Outperform rating.
