Washington Trust Bank Lowers stake in Celgene Corporation (CELG)

Celgene Corporation (CELG) : Washington Trust Bank reduced its stake in Celgene Corporation by 37.65% during the most recent quarter end. The investment management company now holds a total of 3,619 shares of Celgene Corporation which is valued at $381,045 after selling 2,185 shares in Celgene Corporation , the firm said in a disclosure report filed with the SEC on Oct 4, 2016.Celgene Corporation makes up approximately 0.09% of Washington Trust Bank’s portfolio.

Other Hedge Funds, Including , Lvm Capital Management Ltdmi added CELG to its portfolio by purchasing 2,650 company shares during the most recent quarter which is valued at $279,019. Celgene Corporation makes up approx 0.09% of Lvm Capital Management Ltdmi’s portfolio.Harbour Capital Advisors reduced its stake in CELG by selling 80 shares or 0.74% in the most recent quarter. The Hedge Fund company now holds 10,799 shares of CELG which is valued at $1,137,027. Celgene Corporation makes up approx 0.61% of Harbour Capital Advisors’s portfolio.Cullinan Associates Inc boosted its stake in CELG in the latest quarter, The investment management firm added 58 additional shares and now holds a total of 62,065 shares of Celgene Corporation which is valued at $6,534,824. Celgene Corporation makes up approx 0.56% of Cullinan Associates Inc’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 opened for trading at $104.38 and hit $105.46 on the upside on Tuesday, eventually ending the session at $104.67, with a gain of 0.38% or 0.4 points. The heightened volatility saw the trading volume jump to 26,81,343 shares. Company has a market cap of $81,131 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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