Jolley Asset Management adds Celgene Corporation (CELG) to its portfolio

Celgene Corporation (CELG) : Jolley Asset Management added new position in Celgene Corporation during the most recent quarter end. The investment management firm now holds 765 shares of Celgene Corporation which is valued at $84,548 , the company said in a statement filed on Apr 21, 2016 with the SEC.Celgene Corporation makes up approximately 0.07% of Jolley Asset 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 , Mechanics Bank Trust Department sold out all of its stake in CELG during the most recent quarter. The investment firm sold 1,988 shares of CELG which is valued $219,714.Seabridge Investment Advisors reduced its stake in CELG by selling 190 shares or 4.4% in the most recent quarter. The Hedge Fund company now holds 4,130 shares of CELG which is valued at $456,448. Celgene Corporation makes up approx 0.10% of Seabridge Investment Advisors’s portfolio. Fox Run Management L.l.c. added CELG to its portfolio by purchasing 10,800 company shares during the most recent quarter which is valued at $1,193,616. Celgene Corporation makes up approx 0.77% of Fox Run Management L.l.c.’s portfolio.Triangle Securities Wealth Management reduced its stake in CELG by selling 60 shares or 2.01% in the most recent quarter. The Hedge Fund company now holds 2,931 shares of CELG which is valued at $304,267. Celgene Corporation makes up approx 0.20% of Triangle Securities Wealth Management’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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