Pax World Management Lowers stake in Celgene Corporation (CELG)

Celgene Corporation (CELG) : Pax World Management reduced its stake in Celgene Corporation by 12.78% during the most recent quarter end. The investment management company now holds a total of 184,281 shares of Celgene Corporation which is valued at $20,973,021 after selling 27,000 shares in Celgene Corporation , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Celgene Corporation makes up approximately 1.18% of Pax World Management’s portfolio.

Other Hedge Funds, Including , Halbert Hargroverussell boosted its stake in CELG in the latest quarter, The investment management firm added 187 additional shares and now holds a total of 2,263 shares of Celgene Corporation which is valued at $257,552. Celgene Corporation makes up approx 0.07% of Halbert Hargroverussell’s portfolio. Cambridge Trust Co added CELG to its portfolio by purchasing 40,174 company shares during the most recent quarter which is valued at $4,641,302. Celgene Corporation makes up approx 0.34% of Cambridge Trust Co’s portfolio.State Treasurer State Of Michigan reduced its stake in CELG by selling 100 shares or 0.04% in the most recent quarter. The Hedge Fund company now holds 269,080 shares of CELG which is valued at $31,250,951. Celgene Corporation makes up approx 0.24% of State Treasurer State Of Michigan’s portfolio.Ferguson Wellman Capital Management Inc reduced its stake in CELG by selling 1,503 shares or 20.92% in the most recent quarter. The Hedge Fund company now holds 5,680 shares of CELG which is valued at $583,336. Celgene Corporation makes up approx 0.02% of Ferguson Wellman Capital Management Inc’s portfolio.

Celgene Corporation opened for trading at $113.84 and hit $114.8 on the upside on Monday, eventually ending the session at $114.62, with a gain of 1.08% or 1.23 points. The heightened volatility saw the trading volume jump to 29,78,509 shares. Company has a market cap of $88,844 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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