Edge Wealth Management Lowers stake in Celgene Corporation (CELG)

Celgene Corporation (CELG) : Edge Wealth Management reduced its stake in Celgene Corporation by 9.91% during the most recent quarter end. The investment management company now holds a total of 33,699 shares of Celgene Corporation which is valued at $3,391,130 after selling 3,707 shares in Celgene Corporation , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Celgene Corporation makes up approximately 1.43% of Edge Wealth Management’s portfolio.

Other Hedge Funds, Including , Profit Investment Management reduced its stake in CELG by selling 7,791 shares or 35.44% in the most recent quarter. The Hedge Fund company now holds 14,190 shares of CELG which is valued at $1,427,940. Celgene Corporation makes up approx 1.44% of Profit Investment Management’s portfolio. Fox Run Management L.l.c. sold out all of its stake in CELG during the most recent quarter. The investment firm sold 4,300 shares of CELG which is valued $437,052. Lgt Capital Partners Ltd. added CELG to its portfolio by purchasing 66,340 company shares during the most recent quarter which is valued at $6,917,272. Celgene Corporation makes up approx 0.97% of Lgt Capital Partners Ltd.’s portfolio.Bath Savings Trust Co boosted its stake in CELG in the latest quarter, The investment management firm added 2,033 additional shares and now holds a total of 87,439 shares of Celgene Corporation which is valued at $9,206,452. Celgene Corporation makes up approx 2.90% of Bath Savings Trust Co’s portfolio.

Celgene Corporation closed down -2.63 points or -2.52% at $101.64 with 34,28,438 shares getting traded on Tuesday. Post opening the session at $103.6, the shares hit an intraday low of $101.021 and an intraday high of $103.881 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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.

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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