Mirae Asset Global Investments Ltd. buys $34.4 Million stake in Celgene Corporation (CELG)

Celgene Corporation (CELG) : Mirae Asset Global Investments Ltd. scooped up 26,223 additional shares in Celgene Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 343,411 shares of Celgene Corporation which is valued at $34.4 Million.Celgene Corporation makes up approximately 0.95% of Mirae Asset Global Investments Ltd.’s portfolio.

Other Hedge Funds, Including , Credit Agricole S A reduced its stake in CELG by selling 144,044 shares or 28.21% in the most recent quarter. The Hedge Fund company now holds 366,554 shares of CELG which is valued at $36.7 Million. Celgene Corporation makes up approx 0.18% of Credit Agricole S A’s portfolio. Cortland Associates Incmo sold out all of its stake in CELG during the most recent quarter. The investment firm sold 1,870 shares of CELG which is valued $187,468.Jag Capital Management reduced its stake in CELG by selling 81,590 shares or 76.06% in the most recent quarter. The Hedge Fund company now holds 25,686 shares of CELG which is valued at $2.7 Million. Celgene Corporation makes up approx 0.54% of Jag Capital Management’s portfolio.

Celgene Corporation opened for trading at $100.12 and hit $102.41 on the upside on Friday, eventually ending the session at $101.46, with a gain of 1.52% or 1.52 points. The heightened volatility saw the trading volume jump to 37,10,192 shares. Company has a market cap of $78,591,017 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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