Marsico Capital Management Lowers stake in Celgene Corporation (CELG)

Celgene Corporation (CELG) : Marsico Capital Management reduced its stake in Celgene Corporation by 52.17% during the most recent quarter end. The investment management company now holds a total of 333,614 shares of Celgene Corporation which is valued at $37,828,491 after selling 363,922 shares in Celgene Corporation , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Celgene Corporation makes up approximately 1.24% of Marsico Capital Management’s portfolio.

Other Hedge Funds, Including , Pt Asset Management added CELG to its portfolio by purchasing 1,800 company shares during the most recent quarter which is valued at $204,102. Celgene Corporation makes up approx 0.51% of Pt Asset Management’s portfolio.Blackrock Fund Advisors boosted its stake in CELG in the latest quarter, The investment management firm added 48,168 additional shares and now holds a total of 15,066,831 shares of Celgene Corporation which is valued at $1,708,427,967. Celgene Corporation makes up approx 0.36% of Blackrock Fund Advisors’s portfolio. Tlp Group added CELG to its portfolio by purchasing 577 company shares during the most recent quarter which is valued at $65,565. Celgene Corporation makes up approx 0.04% of Tlp Group’s portfolio.Strategic Advisors boosted its stake in CELG in the latest quarter, The investment management firm added 2,350 additional shares and now holds a total of 4,380 shares of Celgene Corporation which is valued at $458,236. Celgene Corporation makes up approx 0.26% of Strategic Advisors’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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