Celgene (CELG $162) is not on the Rayno biopharmaceutical focus list but it is a good candidate for hedging with a short position or profit taking. Goldman downgraded the stock today from Neutral to SELL . Also, the Wall Street Journal has an article in the Marketplace section about a royalty dispute on tow of their drugs Revlimid(R) and Pomalyst(R) with Children’s Hospital of Boston, a teaching hospital of Harvard Medical School.
CELG is up 96% over one year, has a PE of 46, a PEG of 2.11 and a P/S of 11.
The technicals look weak today with many biotech stocks in the red. Large cap losers are Alexion (ALXN) off 3%, Biogen (BIIB) off 1.5%, Gilead (GILD) off 1.9% and Regeneron(REGN) off 1.8%.