Ubs Asset Management Americas Inc Lowers stake in Celgene Corporation (CELG)

Celgene Corporation (CELG) : Ubs Asset Management Americas Inc reduced its stake in Celgene Corporation by 0.47% during the most recent quarter end. The investment management company now holds a total of 5,586,581 shares of Celgene Corporation which is valued at $635,808,784 after selling 26,251 shares in Celgene Corporation , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Celgene Corporation makes up approximately 0.70% of Ubs Asset Management Americas Inc’s portfolio.

Other Hedge Funds, Including , Cornerstone Financial Partners reduced its stake in CELG by selling 935 shares or 25.08% in the most recent quarter. The Hedge Fund company now holds 2,793 shares of CELG which is valued at $324,379. Celgene Corporation makes up approx 0.11% of Cornerstone Financial Partners’s portfolio.Oakbrook Investments boosted its stake in CELG in the latest quarter, The investment management firm added 17,900 additional shares and now holds a total of 61,603 shares of Celgene Corporation which is valued at $6,623,555. Celgene Corporation makes up approx 0.35% of Oakbrook Investments’s portfolio.

Celgene Corporation opened for trading at $112.17 and hit $112.84 on the upside on Wednesday, eventually ending the session at $112.55, with a gain of 0.34% or 0.38 points. The heightened volatility saw the trading volume jump to 37,33,670 shares. Company has a market cap of $87,239 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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