Rhenman Partners Asset Management Ab buys $23,111,860 stake in Celgene Corporation (CELG)

Celgene Corporation (CELG) : Rhenman Partners Asset Management Ab scooped up 79,000 additional shares in Celgene Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 199,000 shares of Celgene Corporation which is valued at $23,111,860.Celgene Corporation makes up approximately 3.69% of Rhenman Partners Asset Management Ab’s portfolio.

Other Hedge Funds, Including , Courier Capital Corp boosted its stake in CELG in the latest quarter, The investment management firm added 280 additional shares and now holds a total of 4,196 shares of Celgene Corporation which is valued at $487,323. Celgene Corporation makes up approx 0.10% of Courier Capital Corp’s portfolio.Atlas Browninc. boosted its stake in CELG in the latest quarter, The investment management firm added 120 additional shares and now holds a total of 4,285 shares of Celgene Corporation which is valued at $480,734. Celgene Corporation makes up approx 0.19% of Atlas Browninc.’s portfolio.Pitcairn Co boosted its stake in CELG in the latest quarter, The investment management firm added 38 additional shares and now holds a total of 4,948 shares of Celgene Corporation which is valued at $534,928. Celgene Corporation makes up approx 0.07% of Pitcairn Co’s portfolio.Wealthtrust-arizona reduced its stake in CELG by selling 73 shares or 4.87% in the most recent quarter. The Hedge Fund company now holds 1,425 shares of CELG which is valued at $153,216. Celgene Corporation makes up approx 0.09% of Wealthtrust-arizona’s portfolio.Balasa Dinverno Foltz reduced its stake in CELG by selling 220 shares or 5.31% in the most recent quarter. The Hedge Fund company now holds 3,924 shares of CELG which is valued at $402,995. Celgene Corporation makes up approx 0.07% of Balasa Dinverno Foltz’s portfolio.

Celgene Corporation opened for trading at $116.61 and hit $117.452 on the upside on Thursday, eventually ending the session at $116.27, with a gain of 0.11% or 0.13 points. The heightened volatility saw the trading volume jump to 73,76,899 shares. Company has a market cap of $90,123 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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