Rodman & Renshaw Maintains Market Outperform Rating and $105 PT on Celgene

A report from Rodman & Renshaw reiterates its Market Outperform rating and $105 price target on Celgene (NASDAQ: CELG). The report states, “MTX makes no difference, which is a good thing. Methotrexate, while highly efficacious in psoriatic arthritis (PsA) and rheumatoid arthritis (RA) is fraught with numerous side effects. Irrespective of whether patients received MTX, apremilast 20mg and 40mg produce similar results (though the efficacy results in the 20mg arm were superior to those in the 40mg arm). Dr. Schett's conclusions were not completely convincing with the audience." CELG closed Friday at $63.73.