Celcuity (NASDAQ:CELC) Earns Buy Rating from Needham & Company LLC

Celcuity (NASDAQ:CELC)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They currently have a $29.00 price objective on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 209.83% from the company’s current price.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price target on shares of Celcuity in a report on Tuesday. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Celcuity has an average rating of “Buy” and a consensus price target of $30.17.

Celcuity Trading Up 0.8 %

NASDAQ CELC opened at $9.36 on Tuesday. The company’s 50-day simple moving average is $11.10 and its two-hundred day simple moving average is $12.84. Celcuity has a one year low of $8.50 and a one year high of $20.89. The company has a market capitalization of $347.54 million, a price-to-earnings ratio of -3.59 and a beta of 0.44. The company has a debt-to-equity ratio of 0.65, a quick ratio of 10.36 and a current ratio of 10.35.

Celcuity (NASDAQ:CELC) last issued its quarterly earnings data on Monday, March 31st. The company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.13). Equities analysts forecast that Celcuity will post -2.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Celcuity

Hedge funds have recently bought and sold shares of the stock. Soleus Capital Management L.P. lifted its stake in shares of Celcuity by 106.0% in the 4th quarter. Soleus Capital Management L.P. now owns 2,565,087 shares of the company’s stock valued at $33,577,000 after purchasing an additional 1,319,700 shares during the period. Baker BROS. Advisors LP raised its position in shares of Celcuity by 42.9% in the fourth quarter. Baker BROS. Advisors LP now owns 2,678,553 shares of the company’s stock worth $35,062,000 after acquiring an additional 803,575 shares during the period. State Street Corp boosted its stake in shares of Celcuity by 152.2% during the 3rd quarter. State Street Corp now owns 1,107,415 shares of the company’s stock worth $16,512,000 after acquiring an additional 668,318 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Celcuity during the 4th quarter valued at about $8,468,000. Finally, Candriam S.C.A. purchased a new position in shares of Celcuity in the 4th quarter valued at about $3,450,000. Hedge funds and other institutional investors own 63.33% of the company’s stock.

About Celcuity

Celcuity Inc, a clinical stage biotechnology company, focuses on the development of targeted therapies for the treatment of various solid tumors in the United States. The company's CELsignia diagnostic platform uses a patient's living tumor cells to identify the specific abnormal cellular process driving a patient's cancer and the related targeted therapy for the treatment.