Ithaka Group Lowers stake in Celgene Corporation (CELG)

Celgene Corporation (CELG) : Ithaka Group reduced its stake in Celgene Corporation by 1.63% during the most recent quarter end. The investment management company now holds a total of 247,335 shares of Celgene Corporation which is valued at $28,045,316 after selling 4,111 shares in Celgene Corporation , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Celgene Corporation makes up approximately 3.76% of Ithaka Group’s portfolio.

Other Hedge Funds, Including , Next Century Growth Investors reduced its stake in CELG by selling 2,129 shares or 3.36% in the most recent quarter. The Hedge Fund company now holds 61,285 shares of CELG which is valued at $6,949,106. Celgene Corporation makes up approx 0.31% of Next Century Growth Investors’s portfolio. Harel Insurance Investments Financial Services Ltd. added CELG to its portfolio by purchasing 2,692 company shares during the most recent quarter which is valued at $312,649. Celgene Corporation makes up approx 0.04% of Harel Insurance Investments Financial Services Ltd.’s portfolio.Cypress Capital Management (wy) boosted its stake in CELG in the latest quarter, The investment management firm added 2,080 additional shares and now holds a total of 57,581 shares of Celgene Corporation which is valued at $6,460,012. Celgene Corporation makes up approx 8.31% of Cypress Capital Management (wy)’s portfolio.Gemmer Asset Management reduced its stake in CELG by selling 55 shares or 14.86% in the most recent quarter. The Hedge Fund company now holds 315 shares of CELG which is valued at $33,869. Celgene Corporation makes up approx 0.02% of Gemmer Asset Management’s portfolio.First Quadrant L Pca boosted its stake in CELG in the latest quarter, The investment management firm added 8,400 additional shares and now holds a total of 80,600 shares of Celgene Corporation which is valued at $8,432,372. Celgene Corporation makes up approx 0.18% of First Quadrant L Pca’s portfolio.

Celgene Corporation closed down -0.84 points or -0.77% at $107.95 with 26,07,239 shares getting traded on Monday. Post opening the session at $109.08, the shares hit an intraday low of $107.6801 and an intraday high of $109.44 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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