Frontier Wealth Management Lowers stake in Celgene Corporation (CELG)

Celgene Corporation (CELG) : Frontier Wealth Management reduced its stake in Celgene Corporation by 0.98% during the most recent quarter end. The investment management company now holds a total of 61,577 shares of Celgene Corporation which is valued at $6.2 Million after selling 610 shares in Celgene Corporation , the firm said in a disclosure report filed with the SEC on May 13, 2016.Celgene Corporation makes up approximately 0.50% of Frontier Wealth Management’s portfolio.

Other Hedge Funds, Including , Opus Point Partners Management reduced its stake in CELG by selling 8,360 shares or 17.43% in the most recent quarter. The Hedge Fund company now holds 39,596 shares of CELG which is valued at $4 Million. Celgene Corporation makes up approx 3.77% of Opus Point Partners Management’s portfolio.Gerstein Fisher reduced its stake in CELG by selling 532 shares or 0.88% in the most recent quarter. The Hedge Fund company now holds 59,777 shares of CELG which is valued at $6 Million. Celgene Corporation makes up approx 0.82% of Gerstein Fisher’s portfolio.Washington Trust Co boosted its stake in CELG in the latest quarter, The investment management firm added 9,296 additional shares and now holds a total of 156,109 shares of Celgene Corporation which is valued at $15.6 Million. Celgene Corporation makes up approx 1.04% of Washington Trust Co’s portfolio.Kames Capital Plc reduced its stake in CELG by selling 24,683 shares or 7.21% in the most recent quarter. The Hedge Fund company now holds 317,538 shares of CELG which is valued at $32.8 Million. Celgene Corporation makes up approx 0.99% of Kames Capital Plc’s portfolio.

Celgene Corporation opened for trading at $104.24 and hit $105.87 on the upside on Wednesday, eventually ending the session at $105.11, with a gain of 1.36% or 1.41 points. The heightened volatility saw the trading volume jump to 36,57,006 shares. Company has a market cap of $81,418 M.

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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