Regent Investment Management Lowers stake in Celgene Corporation (CELG)

Celgene Corporation (CELG) : Regent Investment Management reduced its stake in Celgene Corporation by 1.23% during the most recent quarter end. The investment management company now holds a total of 41,049 shares of Celgene Corporation which is valued at $4,215,732 after selling 510 shares in Celgene Corporation , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.Celgene Corporation makes up approximately 2.20% of Regent Investment Management’s portfolio.

Other Hedge Funds, Including , Peddock Capital Advisors boosted its stake in CELG in the latest quarter, The investment management firm added 61 additional shares and now holds a total of 12,451 shares of Celgene Corporation which is valued at $1,278,718. Celgene Corporation makes up approx 0.80% of Peddock Capital Advisors’s portfolio.Gradient Investments reduced its stake in CELG by selling 146 shares or 4.51% in the most recent quarter. The Hedge Fund company now holds 3,094 shares of CELG which is valued at $317,754. Celgene Corporation makes up approx 0.03% of Gradient Investments’s portfolio.Gateway Investment Advisers reduced its stake in CELG by selling 2,199 shares or 0.36% in the most recent quarter. The Hedge Fund company now holds 603,519 shares of CELG which is valued at $61,414,093. Celgene Corporation makes up approx 0.51% of Gateway Investment Advisers’s portfolio.Abner Herrman Brock reduced its stake in CELG by selling 2,153 shares or 2.26% in the most recent quarter. The Hedge Fund company now holds 93,145 shares of CELG which is valued at $9,478,435. Celgene Corporation makes up approx 2.19% of Abner Herrman Brock’s portfolio.

Celgene Corporation closed down -0.15 points or -0.15% at $102.7 with 25,30,186 shares getting traded on Monday. Post opening the session at $102.85, the shares hit an intraday low of $102.01 and an intraday high of $103.38 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 $1.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $1.27. The company had revenue of $2511.60 million for the quarter, compared to analysts expectations of $2577.08 million. The company’s revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 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.Company shares were Reiterated by Sun Trust Rbsn Humphrey on Apr 29, 2016 to “Buy”, Firm has raised the Price Target to $ 147 from a previous price target of $145 .

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *