Eagle Ridge Investment Management Lowers stake in Celgene Corporation (CELG)

Celgene Corporation (CELG) : Eagle Ridge Investment Management reduced its stake in Celgene Corporation by 9.91% during the most recent quarter end. The investment management company now holds a total of 17,922 shares of Celgene Corporation which is valued at $1,980,739 after selling 1,971 shares in Celgene Corporation , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Celgene Corporation makes up approximately 0.45% of Eagle Ridge Investment Management’s portfolio.

Celgene Corporation closed down -1.4 points or -1.30% at $106.15 with 59,08,642 shares getting traded on Wednesday. Post opening the session at $107.9, the shares hit an intraday low of $105.82 and an intraday high of $108.11 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Strs Ohio sold out all of its stake in CELG during the most recent quarter. The investment firm sold 1,007,973 shares of CELG which is valued $111,401,176.Reilly Financial Advisors boosted its stake in CELG in the latest quarter, The investment management firm added 50 additional shares and now holds a total of 754 shares of Celgene Corporation which is valued at $83,332. Celgene Corporation makes up approx 0.02% of Reilly Financial Advisors’s portfolio.Btim Corp. reduced its stake in CELG by selling 81 shares or 1.14% in the most recent quarter. The Hedge Fund company now holds 7,031 shares of CELG which is valued at $777,066. Celgene Corporation makes up approx 0.01% of Btim Corp.’s portfolio.Rnc Capital Management reduced its stake in CELG by selling 375 shares or 7.1% in the most recent quarter. The Hedge Fund company now holds 4,910 shares of CELG which is valued at $527,039. Celgene Corporation makes up approx 0.05% of Rnc Capital Management’s portfolio.Neville Rodie Shaw Inc reduced its stake in CELG by selling 1,450 shares or 1.62% in the most recent quarter. The Hedge Fund company now holds 87,781 shares of CELG which is valued at $9,422,413. Celgene Corporation makes up approx 1.13% of Neville Rodie Shaw Inc’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 (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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