Celgene Most Impressive On Day 1 of J.P. Morgan Healthcare Confab

SAN FRANCISCO ( TheStreet) -- Celgene ( CELG) was a big winner on the first day of the J.P. Morgan Healthcare Conference.

The big-cap biotech is the traditional kick-off presentation at this closely followed conference, and this year, the company set a high bar for its competitors with strong financial guidance (including a bullish 2017 forecast for the first time) and positive psoriasis results from studies involving its experimental drug apremilast.

Celgene shares rose more than 4% to $85.73 on Monday and the stock was up again in Tuesday's pre-market session, bolstered by some analyst upgrades.

Gilead Sciences ( GILD) and Biogen Idec ( BIIB) also presented at the J.P. Morgan conference on Monday. While both offered confident outlooks for the coming year, Celgene was a standout. Amgen ( AMGN) presents at the conference later today.

Read a lot more about Celgene's outlook and the way investors and others reacted to the company's J.P. Morgan presentation on Twitter with this Appeering conversation thread:

-- Reported by Adam Feuerstein in Boston.  

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Adam Feuerstein writes regularly for TheStreet. In keeping with company editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback; click here to send him an email.

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