Long Position on CELG @ $134.00 on 6/29/2017 (Momentum)

Celgene Corporation (CELG) discovers, develops, and commercializes therapies to treat cancer and inflammatory diseases in the United States and Internationally.

It markets REVLIMID, an oral immunomodulatory drug for multiple myeloma, myelodysplastic syndromes (MDS), and mantle cell lymphoma; ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers; POMALYST/IMNOVID for the treatment of multiple myeloma; and VIDAZA, a pyrimidine nucleoside analog to treat intermediate-2 and high-risk MDS, and chronic myelomonocytic leukemia, as well as acute myeloid leukemia (AML).

The company’s products also include THALOMID for the patients with multiple myeloma and for the treatment of cutaneous manifestations of erythema nodosum leprosum; OTEZLA for psoriatic arthritis, psoriasis, and ankylosing spondylitis; ISTODAX to treat cutaneous and peripheral T-cell lymphoma; and FOCALIN, FOCALIN XR, and RITALIN LA products.

Its clinical stage products comprise oral anti-inflammatory agents targeting PDE4, an intracellular enzyme that modulates the production of multiple pro-inflammatory and anti-inflammatory mediators; CC-122 and CC-220 to treat hematological and solid tumor cancers, and inflammation and immunology diseases; cellular therapies, such as PDA-001 and PDA-002 for Crohn's and peripheral arterial diseases; CC-486 to treat MDS, AML, and solid tumors; Sotatercept and luspatercept for the treatment of anemia; and CC-223 and CC-115 for lymphomas, hepatocellular, and prostate cancers.

Shares have formed a bullish "cup and handle" following the recent run up in the biotechnology stocks. Higher share prices are expected for this stock.

52-Weeks Trading Range: $96.93 to $135.18

Entry Point: $134.00

Stop Loss: $127.20

Target Price: $147.50

Updates

9/1/2017 3:02:22 PM

CELG closed at $140.00

Position closed on 9/1/2017 at price of $140.00 with a 4.48% gain in 64 days.

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