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

Needham & Company LLC reissued their buy rating on shares of Celcuity (NASDAQ:CELC) in a research note released on Friday,Benzinga reports. They currently have a $23.00 target price on the stock.

CELC has been the subject of several other research reports. Stifel Nicolaus raised their target price on shares of Celcuity from $39.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. HC Wainwright restated a “buy” rating and issued a $27.00 price objective on shares of Celcuity in a research report on Thursday, August 15th. Lifesci Capital began coverage on Celcuity in a report on Monday, August 26th. They issued an “outperform” rating and a $27.00 price objective on the stock. Leerink Partnrs raised Celcuity to a “strong-buy” rating in a research note on Monday, July 22nd. Finally, Leerink Partners began coverage on Celcuity in a research note on Monday, July 22nd. They issued an “outperform” rating and a $29.00 price target on the stock. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $29.17.

Celcuity Stock Performance

Celcuity stock traded down $1.45 during mid-day trading on Friday, reaching $12.66. 954,227 shares of the company were exchanged, compared to its average volume of 279,872. The firm’s 50-day simple moving average is $15.15 and its two-hundred day simple moving average is $16.03. Celcuity has a twelve month low of $11.51 and a twelve month high of $22.19. The firm has a market cap of $468.80 million, a PE ratio of -4.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.54, a quick ratio of 14.95 and a current ratio of 14.95.

Celcuity (NASDAQ:CELC) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.09. During the same period last year, the company earned ($0.66) EPS. Equities analysts predict that Celcuity will post -2.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CELC. nVerses Capital LLC purchased a new stake in shares of Celcuity in the 3rd quarter worth about $33,000. Prospera Private Wealth LLC purchased a new stake in shares of Celcuity in the third quarter valued at about $35,000. Values First Advisors Inc. acquired a new stake in shares of Celcuity in the third quarter valued at approximately $86,000. Quest Partners LLC increased its stake in shares of Celcuity by 31.3% during the 2nd quarter. Quest Partners LLC now owns 5,788 shares of the company’s stock worth $95,000 after purchasing an additional 1,379 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Celcuity during the 3rd quarter worth approximately $119,000. Hedge funds and other institutional investors own 63.33% of the company’s stock.

Celcuity Company Profile

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.