Geneva Advisors Lowers stake in Celgene Corporation (CELG)

Celgene Corporation (CELG) : Geneva Advisors reduced its stake in Celgene Corporation by 13.59% during the most recent quarter end. The investment management company now holds a total of 923,264 shares of Celgene Corporation which is valued at $92,557,216 after selling 145,157 shares in Celgene Corporation , the firm said in a disclosure report filed with the SEC on May 3, 2016.Celgene Corporation makes up approximately 1.85% of Geneva Advisors’s portfolio.

Other Hedge Funds, Including , Middleton Co Incma sold out all of its stake in CELG during the most recent quarter. The investment firm sold 1,801 shares of CELG which is valued $180,550.Baltimore-washington Financial Advisors boosted its stake in CELG in the latest quarter, The investment management firm added 4,691 additional shares and now holds a total of 28,094 shares of Celgene Corporation which is valued at $2,816,424. Celgene Corporation makes up approx 0.86% of Baltimore-washington Financial Advisors’s portfolio. Nelson Van Denburg Campbell Wealth Management Group added CELG to its portfolio by purchasing 200 company shares during the most recent quarter which is valued at $20,682. Celgene Corporation makes up approx 0.01% of Nelson Van Denburg Campbell Wealth Management Group’s portfolio.Telemus Capital boosted its stake in CELG in the latest quarter, The investment management firm added 24,864 additional shares and now holds a total of 52,041 shares of Celgene Corporation which is valued at $5,381,560. Celgene Corporation makes up approx 0.88% of Telemus Capital’s portfolio.Concorde Asset Management boosted its stake in CELG in the latest quarter, The investment management firm added 744 additional shares and now holds a total of 4,980 shares of Celgene Corporation which is valued at $514,982. Celgene Corporation makes up approx 0.59% of Concorde Asset Management’s portfolio.

Celgene Corporation opened for trading at $102.8 and hit $103.48 on the upside on Tuesday, eventually ending the session at $103.25, with a gain of 0.82% or 0.84 points. The heightened volatility saw the trading volume jump to 29,17,398 shares. Company has a market cap of $79,978 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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