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Celgene (CELG) stock jumped 10% to a new high above 135 Wednesday morning as it got several price-target increases in the wake of its deal to buy Receptos (RCPT). Celgene agreed to pay $7.2 billion for Receptos and announced preliminary Q2 earnings that beat estimates. Receptos’ lead drug candidate Ozanimod is in clinical testing for different immunological diseases. This is a field that Celgene entered last year with the launch of its psoriasis Scalper1 News
Scalper1 News