Mcrae Capital Management Inc Lowers stake in Celgene Corporation (CELG)

Celgene Corporation (CELG) : Mcrae Capital Management Inc reduced its stake in Celgene Corporation by 0.97% during the most recent quarter end. The investment management company now holds a total of 117,105 shares of Celgene Corporation which is valued at $11,739,776 after selling 1,150 shares in Celgene Corporation , the firm said in a disclosure report filed with the SEC on May 2, 2016.Celgene Corporation makes up approximately 5.27% of Mcrae Capital Management Inc’s portfolio.

Celgene Corporation closed down -1.46 points or -1.44% at $100.25 with 37,28,230 shares getting traded on Friday. Post opening the session at $100.72, the shares hit an intraday low of $99.27 and an intraday high of $102.11 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Ifp Advisors Inc reduced its stake in CELG by selling 3,523 shares or 9.75% in the most recent quarter. The Hedge Fund company now holds 32,597 shares of CELG which is valued at $3,267,849. Celgene Corporation makes up approx 0.20% of Ifp Advisors Inc’s portfolio.Greenleaf Trust reduced its stake in CELG by selling 13,996 shares or 5.58% in the most recent quarter. The Hedge Fund company now holds 236,640 shares of CELG which is valued at $24,470,942. Celgene Corporation makes up approx 0.66% of Greenleaf Trust’s portfolio.Liberty Capital Management reduced its stake in CELG by selling 160 shares or 0.59% in the most recent quarter. The Hedge Fund company now holds 27,073 shares of CELG which is valued at $2,799,619. Celgene Corporation makes up approx 2.15% of Liberty Capital Management’s portfolio.Private Wealth Partners boosted its stake in CELG in the latest quarter, The investment management firm added 42,332 additional shares and now holds a total of 97,140 shares of Celgene Corporation which is valued at $10,045,247. Celgene Corporation makes up approx 2.40% of Private Wealth Partners’s portfolio.Gw&k Investment Management boosted its stake in CELG in the latest quarter, The investment management firm added 30,608 additional shares and now holds a total of 114,391 shares of Celgene Corporation which is valued at $12,642,493. Celgene Corporation makes up approx 0.28% of Gw&k Investment Management’s portfolio.

On the company’s financial health, Celgene Corporation reported $1.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $1.27. The company had revenue of $2511.60 million for the quarter, compared to analysts expectations of $2577.08 million. The company’s revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 EPS.

Many Wall Street Analysts have commented on Celgene Corporation. Company shares were Reiterated by Sun Trust Rbsn Humphrey on Apr 29, 2016 to “Buy”, Firm has raised the Price Target to $ 147 from a previous price target of $145 .Citigroup Initiated Celgene Corporation on Feb 25, 2016 to “Buy”, Price Target of the shares are set at $130.

Celgene Corporation (Celgene) together with its subsidiaries is an integrated biopharmaceutical company engaged primarily in the discovery development and commercialization of therapies for the treatment of cancer and inflammatory diseases through gene and protein regulation. The Company’s primary commercial stage products include REVLIMID (lenalidomide) ABRAXANE POMALYST/IMNOVID VIDAZA azacitidine for injection (generic version of VIDAZA) THALOMID (sold as THALOMID or Thalidomide Celgene outside the United States) OTEZLA (apremilast) and ISTODAX (romidepsin). Celgene is involved in research in a range of scientific areas designed to deliver therapies targeting areas including intracellular signaling pathways protein homeostasis and epigenetics in cancer and immune cells immunomodulation in cancer and autoimmune diseases and therapeutic application of cell therapies.

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