Jefferies Maintains Buy on Celgene

Jefferies is out with its report today on Celgene CELG, maintaining Buy. In a note to clients, Jefferies writes, "The FDA released draft guidance for non-small cell lung cancer, recommending overall survival as the standard endpoint for efficacy, as expected, but leaving the possibility of evaluating other endpoints like objective response rate. Nonetheless, we remain cautious on Abraxane in lung cancer and maintain modest expectations. Jefferies maintains a $68 PT on CELG. At the time of posting, shares of CELG were trading at $59.94, down 0.17% from Tuesday's close.