Needham & Company LLC Issues Positive Forecast for Celcuity (NASDAQ:CELC) Stock Price

Celcuity (NASDAQ:CELC) had its price target hoisted by analysts at Needham & Company LLC from $23.00 to $29.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 127.63% from the company’s current price.

Separately, HC Wainwright reiterated a “buy” rating and issued a $27.00 target price on shares of Celcuity in a report on Friday, November 15th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Celcuity currently has an average rating of “Buy” and an average price target of $30.17.

Celcuity Stock Up 1.8 %

Celcuity stock opened at $12.74 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 10.36 and a current ratio of 10.35. The company has a 50-day moving average price of $12.31 and a 200 day moving average price of $14.46. Celcuity has a 12-month low of $10.35 and a 12-month high of $22.19.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Celcuity in the 3rd quarter valued at $119,000. nVerses Capital LLC acquired a new stake in Celcuity in the third quarter valued at $33,000. Hennion & Walsh Asset Management Inc. lifted its holdings in Celcuity by 34.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 73,026 shares of the company’s stock worth $1,089,000 after buying an additional 18,809 shares during the last quarter. Values First Advisors Inc. acquired a new position in shares of Celcuity during the 3rd quarter worth about $86,000. Finally, Quest Partners LLC increased its holdings in shares of Celcuity by 227.6% in the 3rd quarter. Quest Partners LLC now owns 18,962 shares of the company’s stock valued at $283,000 after acquiring an additional 13,174 shares during the last quarter. Institutional investors and hedge funds 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.