Celcuity (NASDAQ:CELC) Given Buy Rating at Needham & Company LLC

Celcuity (NASDAQ:CELC)‘s stock had its “buy” rating restated by Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They presently have a $29.00 target price on the stock. Needham & Company LLC’s price target would suggest a potential upside of 186.84% from the company’s previous close.

Separately, HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of Celcuity in a report on Tuesday. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $30.17.

Celcuity Stock Performance

NASDAQ CELC opened at $10.11 on Tuesday. 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 market capitalization of $375.38 million, a PE ratio of -3.87 and a beta of 0.65. Celcuity has a 52-week low of $8.53 and a 52-week high of $22.04. The company has a 50-day simple moving average of $11.18 and a 200 day simple moving average of $12.91.

Celcuity (NASDAQ:CELC) last posted its quarterly earnings results on Monday, March 31st. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.13). On average, research analysts predict that Celcuity will post -2.62 EPS for the current year.

Hedge Funds Weigh In On Celcuity

Institutional investors and hedge funds have recently modified their holdings of the stock. Summit Investment Advisors Inc. grew its stake in Celcuity by 49.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,421 shares of the company’s stock worth $45,000 after acquiring an additional 1,132 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of Celcuity during the 4th quarter worth $50,000. The Manufacturers Life Insurance Company bought a new stake in Celcuity during the fourth quarter valued at about $142,000. Bleakley Financial Group LLC bought a new position in Celcuity in the fourth quarter worth about $146,000. Finally, Trexquant Investment LP purchased a new stake in shares of Celcuity during the fourth quarter valued at about $152,000. 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.