Needham & Company LLC Reiterates Buy Rating for Celcuity (NASDAQ:CELC)

Celcuity (NASDAQ:CELC)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a note issued to investors on Friday,Benzinga reports. They currently have a $23.00 target price on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 81.67% from the stock’s previous close.

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

Celcuity Price Performance

NASDAQ:CELC opened at $12.66 on Friday. The company has a quick ratio of 14.95, a current ratio of 14.95 and a debt-to-equity ratio of 0.54. Celcuity has a 52 week low of $11.51 and a 52 week high of $22.19. The stock’s 50-day moving average price is $15.15 and its 200-day moving average price is $16.04. The stock has a market capitalization of $468.80 million, a PE ratio of -4.62 and a beta of 0.76.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CELC. Baker BROS. Advisors LP grew its position in shares of Celcuity by 189.9% in the first quarter. Baker BROS. Advisors LP now owns 1,552,478 shares of the company’s stock valued at $33,534,000 after purchasing an additional 1,017,000 shares in the last quarter. Samlyn Capital LLC increased its stake in shares of Celcuity by 92.4% in the 2nd quarter. Samlyn Capital LLC now owns 1,326,953 shares of the company’s stock worth $21,735,000 after acquiring an additional 637,190 shares during the last quarter. State Street Corp grew its holdings in shares of Celcuity by 152.2% in the third quarter. State Street Corp now owns 1,107,415 shares of the company’s stock valued at $16,512,000 after purchasing an additional 668,318 shares during the period. Braidwell LP grew its stake in shares of Celcuity by 71.2% in the 3rd quarter. Braidwell LP now owns 884,306 shares of the company’s stock valued at $13,185,000 after buying an additional 367,663 shares during the period. Finally, Vanguard Group Inc. increased its stake in Celcuity by 1.0% during the first quarter. Vanguard Group Inc. now owns 828,597 shares of the company’s stock worth $17,898,000 after acquiring an additional 7,821 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.