NEW YORK (TheStreet) -- Barclays lowered its price target on Celgene Corp. (CELG) - Get Report stock to $120 from $130 and maintained its "equal weight" rating on Friday morning, after the company reported its 2015 fourth quarter results yesterday.

Before the market open on Thursday, the biopharmaceutical company reported earnings that missed analysts' expectations.

"Company commentary on first quarter headwinds (Revlimid and Abraxane de-stocking, milestone payments) and uncertainty around 2017 guidance (due to FX) likely signal limited upside to near-term numbers," Barclays said in an analyst note.

Revlimid and Abraxane are cancer drugs.

Growth is solid for Revlimid and the company's hematology portfolio can make up any potential weakness in Abraxane numbers, while the pipeline moves towards more impactful clinical catalysts in 2017 to 2018, the firm noted.

However, across 2016 Barclays sees less space for upside to guidance and more dependence on Revlimid.

The Summit, NJ based company is engaged in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through gene and protein regulation.

Shares of Celgene are increasing by 1.19% to $98.37 late Friday afternoon.

Separately, TheStreet Ratings Team has a "buy" rating with a score of B on the stock.

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This is driven by several positive factors, which should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks covered by the team.

The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity and expanding profit margins.

The team feels its strengths outweigh the fact that the company has had lackluster performance in the stock itself.

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

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