Central Bank Trust Co Lowers stake in Celgene Corporation (CELG)

Celgene Corporation (CELG) : Central Bank Trust Co reduced its stake in Celgene Corporation by 4.22% during the most recent quarter end. The investment management company now holds a total of 83,245 shares of Celgene Corporation which is valued at $8,935,518 after selling 3,669 shares in Celgene Corporation , the firm said in a disclosure report filed with the SEC on Apr 11, 2016.Celgene Corporation makes up approximately 2.48% of Central Bank Trust Co’s portfolio.

Celgene Corporation opened for trading at $106.84 and hit $107.42 on the upside on Friday, eventually ending the session at $107.34, with a gain of 0.33% or 0.35 points. The heightened volatility saw the trading volume jump to 51,95,255 shares. Company has a market cap of $83,904 M.

Other Hedge Funds, Including , Central Trust Co boosted its stake in CELG in the latest quarter, The investment management firm added 4,215 additional shares and now holds a total of 97,026 shares of Celgene Corporation which is valued at $10,414,771. Celgene Corporation makes up approx 0.81% of Central Trust Co’s portfolio.Proficio Capital Partners boosted its stake in CELG in the latest quarter, The investment management firm added 1,250 additional shares and now holds a total of 1,392 shares of Celgene Corporation which is valued at $144,504. Celgene Corporation makes up approx 0.12% of Proficio Capital Partners’s portfolio.New England Research Management boosted its stake in CELG in the latest quarter, The investment management firm added 2,300 additional shares and now holds a total of 18,030 shares of Celgene Corporation which is valued at $1,871,694. Celgene Corporation makes up approx 1.61% of New England Research Management’s portfolio.Stock Yards Bank Trust Co boosted its stake in CELG in the latest quarter, The investment management firm added 3,168 additional shares and now holds a total of 120,665 shares of Celgene Corporation which is valued at $12,526,234. Celgene Corporation makes up approx 1.80% of Stock Yards Bank Trust Co’s portfolio.

On the company’s financial health, Celgene Corporation reported $1.18 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Jan 28, 2016. Analyst had a consensus of $1.21. The company had revenue of $2563.30 million for the quarter, compared to analysts expectations of $2548.22 million. The company’s revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 EPS.

Many Wall Street Analysts have commented on Celgene Corporation. Citigroup Initiated Celgene Corporation on Feb 25, 2016 to “Buy”, Price Target of the shares are set at $130.Shares were Reiterated by RBC Capital Mkts on Jan 29, 2016 to “Outperform” and Lowered the Price Target to $ 135 from a previous price target of $150 .Celgene Corporation was Initiated by Credit Suisse to “Outperform” on Jan 20, 2016.

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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