Celcuity’s (CELC) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Celcuity (NASDAQ:CELC) in a research note published on Monday,Benzinga reports. They currently have a $29.00 price target on the stock.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $27.00 target price on shares of Celcuity in a research note on Monday, May 19th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Celcuity currently has an average rating of “Buy” and an average target price of $30.80.

Celcuity Trading Up 6.5%

CELC stock opened at $13.35 on Monday. Celcuity has a 52-week low of $7.58 and a 52-week high of $19.77. The company has a quick ratio of 6.61, a current ratio of 6.61 and a debt-to-equity ratio of 1.14. The firm has a market cap of $505.56 million, a P/E ratio of -4.41 and a beta of 0.38. The company’s 50-day simple moving average is $11.34 and its 200-day simple moving average is $11.22.

Celcuity (NASDAQ:CELC) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.86) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.09. As a group, equities analysts forecast that Celcuity will post -2.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CELC. Baker BROS. Advisors LP increased its stake in Celcuity by 59.0% during the 1st quarter. Baker BROS. Advisors LP now owns 4,257,735 shares of the company’s stock worth $43,046,000 after buying an additional 1,579,182 shares in the last quarter. Soleus Capital Management L.P. boosted its stake in shares of Celcuity by 106.0% in the fourth quarter. Soleus Capital Management L.P. now owns 2,565,087 shares of the company’s stock worth $33,577,000 after acquiring an additional 1,319,700 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Celcuity during the fourth quarter worth approximately $8,468,000. Candriam S.C.A. purchased a new stake in shares of Celcuity during the fourth quarter worth approximately $3,450,000. Finally, Ameriprise Financial Inc. raised its stake in Celcuity by 45.9% in the 4th quarter. Ameriprise Financial Inc. now owns 447,171 shares of the company’s stock valued at $5,853,000 after purchasing an additional 140,642 shares during the last quarter. 63.33% of the stock is owned by hedge funds and other institutional investors.

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.