NEW YORK (TheStreet) -- Celgene (CELG) - Get Report shares are climbing 0.66% to $102.75 in Thursday's pre-market trading session after analysts at Citigroup began coverage of the stock with a "buy" rating and a $130 price target, saying it is their "top pick" among biotech companies.
The Summit, NJ-based company is the "highest growth stock with transformational pipeline that could help Celgene grow through Revlimid patent cliff," analysts said.
Revlimid is an oral cancer drug that treats multiple myeloma.
Going forward, the firm sees 24% EPS growth in 2015 to 2018, according to the analyst note.
Separately, TheStreet Ratings currently has a "Buy" rating on the stock with a letter grade of B.
The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations, expanding profit margins and notable return on equity. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: CELG