Celgene Corporation (CELG) : Profit Investment Management reduced its stake in Celgene Corporation by 32.85% during the most recent quarter end. The investment management company now holds a total of 49,441 shares of Celgene Corporation which is valued at $5,464,219 after selling 24,189 shares in Celgene Corporation , the firm said in a disclosure report filed with the SEC on Apr 19, 2016.Celgene Corporation makes up approximately 2.29% of Profit Investment Management’s portfolio.
Celgene Corporation opened for trading at $110.34 and hit $111.5 on the upside on Friday, eventually ending the session at $110.52, with a gain of 0.55% or 0.6 points. The heightened volatility saw the trading volume jump to 48,55,538 shares. Company has a market cap of $86,390 M.
Other Hedge Funds, Including , Firstmerit Bank N A Trustee reduced its stake in CELG by selling 338 shares or 11.87% in the most recent quarter. The Hedge Fund company now holds 2,509 shares of CELG which is valued at $277,295. Celgene Corporation makes up approx 0.02% of Firstmerit Bank N A Trustee’s portfolio. Train Babcock Advisors sold out all of its stake in CELG during the most recent quarter. The investment firm sold 1,953 shares of CELG which is valued $209,635. Capital Asset Advisory Services added CELG to its portfolio by purchasing 3,030 company shares during the most recent quarter which is valued at $325,240. Celgene Corporation makes up approx 0.37% of Capital Asset Advisory Services’s portfolio.Rathbone Brothers Plc reduced its stake in CELG by selling 595 shares or 1.83% in the most recent quarter. The Hedge Fund company now holds 31,926 shares of CELG which is valued at $3,314,238. Celgene Corporation makes up approx 0.20% of Rathbone Brothers Plc’s portfolio.Foundry Partners reduced its stake in CELG by selling 15,238 shares or 30.8% in the most recent quarter. The Hedge Fund company now holds 34,235 shares of CELG which is valued at $3,553,935. Celgene Corporation makes up approx 0.36% of Foundry Partners’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 Companys 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.