Opus Point Partners Management Lowers stake in Celgene Corporation (CELG)

Celgene Corporation (CELG) : Opus Point Partners Management reduced its stake in Celgene Corporation by 17.43% during the most recent quarter end. The investment management company now holds a total of 39,596 shares of Celgene Corporation which is valued at $4,489,790 after selling 8,360 shares in Celgene Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Celgene Corporation makes up approximately 3.75% of Opus Point Partners Management’s portfolio.

Other Hedge Funds, Including , Renaissance Technologies added CELG to its portfolio by purchasing 563,038 company shares during the most recent quarter which is valued at $63,842,879. Celgene Corporation makes up approx 0.12% of Renaissance Technologies’s portfolio.South Dakota Investment Council boosted its stake in CELG in the latest quarter, The investment management firm added 6,500 additional shares and now holds a total of 62,400 shares of Celgene Corporation which is valued at $7,075,536. Celgene Corporation makes up approx 0.15% of South Dakota Investment Council’s portfolio.New Mexico Educational Retirement Board boosted its stake in CELG in the latest quarter, The investment management firm added 3,300 additional shares and now holds a total of 90,230 shares of Celgene Corporation which is valued at $10,479,312. Celgene Corporation makes up approx 0.46% of New Mexico Educational Retirement Board’s portfolio. Wealth Enhancement Advisory Services sold out all of its stake in CELG during the most recent quarter. The investment firm sold 9,881 shares of CELG which is valued $1,108,549.

Celgene Corporation closed down -0.37 points or -0.35% at $106.37 with 34,87,171 shares getting traded on Thursday. Post opening the session at $107.04, the shares hit an intraday low of $105.38 and an intraday high of $107.3025 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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