California State Teachers Retirement System Lowers stake in Celgene Corporation (CELG)

Celgene Corporation (CELG) : California State Teachers Retirement System reduced its stake in Celgene Corporation by 3.26% during the most recent quarter end. The investment management company now holds a total of 1,630,128 shares of Celgene Corporation which is valued at $189,323,066 after selling 54,925 shares in Celgene Corporation , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Celgene Corporation makes up approximately 0.39% of California State Teachers Retirement System’s portfolio.

Other Hedge Funds, Including , Zurcher Kantonalbank (zurich Cantonalbank) reduced its stake in CELG by selling 65,119 shares or 13.56% in the most recent quarter. The Hedge Fund company now holds 415,257 shares of CELG which is valued at $48,227,948. Celgene Corporation makes up approx 0.62% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio.Westend Advisors boosted its stake in CELG in the latest quarter, The investment management firm added 2,682 additional shares and now holds a total of 931,389 shares of Celgene Corporation which is valued at $104,492,532. Celgene Corporation makes up approx 5.35% of Westend Advisors’s portfolio.Mu Investments Ltd. reduced its stake in CELG by selling 800 shares or 40.4% in the most recent quarter. The Hedge Fund company now holds 1,180 shares of CELG which is valued at $127,570. Celgene Corporation makes up approx 0.08% of Mu Investments Ltd.’s portfolio.American Century Companies Inc boosted its stake in CELG in the latest quarter, The investment management firm added 488,176 additional shares and now holds a total of 5,679,237 shares of Celgene Corporation which is valued at $613,982,312. Celgene Corporation makes up approx 0.68% of American Century Companies Inc’s portfolio.Laurel Wealth Advisors boosted its stake in CELG in the latest quarter, The investment management firm added 541 additional shares and now holds a total of 3,419 shares of Celgene Corporation which is valued at $359,098. Celgene Corporation makes up approx 0.17% of Laurel Wealth Advisors’s portfolio.

Celgene Corporation opened for trading at $116.61 and hit $117.452 on the upside on Thursday, eventually ending the session at $116.27, with a gain of 0.11% or 0.13 points. The heightened volatility saw the trading volume jump to 73,76,899 shares. Company has a market cap of $90,123 M.

On the company’s financial health, Celgene Corporation reported $1.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.39. The company had revenue of $2754.00 million for the quarter, compared to analysts expectations of $2709.02 million. The company’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 EPS.

Many Wall Street Analysts have commented on Celgene Corporation. Stifel Initiated Celgene Corporation on Jul 15, 2016 to “Buy”, Price Target of the shares are set at $138.

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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