Summit Partners Public Asset Management buys $9,556,000 stake in Celgene Corporation (CELG)

Celgene Corporation (CELG) : Summit Partners Public Asset Management scooped up 35,000 additional shares in Celgene Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 80,000 shares of Celgene Corporation which is valued at $9,556,000.Celgene Corporation makes up approximately 3.81% of Summit Partners Public Asset Management’s portfolio.

Other Hedge Funds, Including , Clinton Group Inc reduced its stake in CELG by selling 10,011 shares or 10.8% in the most recent quarter. The Hedge Fund company now holds 82,690 shares of CELG which is valued at $9,979,029. Celgene Corporation makes up approx 0.46% of Clinton Group Inc’s portfolio.Bank Of Hawaii reduced its stake in CELG by selling 596 shares or 5.59% in the most recent quarter. The Hedge Fund company now holds 10,059 shares of CELG which is valued at $1,034,568. Celgene Corporation makes up approx 0.10% of Bank Of Hawaii’s portfolio.Dowling Yahnke boosted its stake in CELG in the latest quarter, The investment management firm added 3,122 additional shares and now holds a total of 24,686 shares of Celgene Corporation which is valued at $2,469,094. Celgene Corporation makes up approx 0.29% of Dowling Yahnke’s portfolio.Eastern Bank reduced its stake in CELG by selling 86 shares or 0.07% in the most recent quarter. The Hedge Fund company now holds 130,843 shares of CELG which is valued at $12,888,036. Celgene Corporation makes up approx 1.05% of Eastern Bank’s portfolio.

Celgene Corporation closed down -0.11 points or -0.09% at $121.97 with 50,48,365 shares getting traded on Monday. Post opening the session at $121.87, the shares hit an intraday low of $121.06 and an intraday high of $122.5 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 $1.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $1.48. The company had revenue of $2983.00 million for the quarter, compared to analysts expectations of $2830.34 million. The company’s revenue was up 27.8% 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. Celgene Corporation was Downgraded by Standpoint Research to ” Hold” on Nov 9, 2016. Mizuho Initiated Celgene Corporation on Nov 8, 2016 to “Buy”, Price Target of the shares are set at $130.

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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