Needham & Company LLC Reaffirms “Buy” Rating for Celcuity (NASDAQ:CELC)

Celcuity (NASDAQ:CELC)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $29.00 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 173.33% from the company’s current price.

Separately, HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of Celcuity in a research report on Tuesday, April 1st. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Celcuity has a consensus rating of “Buy” and an average price target of $30.80.

Celcuity Stock Performance

Shares of NASDAQ CELC opened at $10.61 on Thursday. The stock has a 50 day moving average price of $10.15 and a 200 day moving average price of $11.70. Celcuity has a 52 week low of $7.58 and a 52 week high of $19.77. 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 stock has a market capitalization of $401.47 million, a PE ratio of -4.07 and a beta of 0.56.

Celcuity (NASDAQ:CELC) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.86) EPS for the quarter, beating the consensus estimate of ($0.95) by $0.09. Analysts predict that Celcuity will post -2.62 earnings per share for the current fiscal year.

Institutional Trading of Celcuity

A number of hedge funds have recently made changes to their positions in the business. Baker BROS. Advisors LP lifted its position in shares of Celcuity by 59.0% in the first quarter. Baker BROS. Advisors LP now owns 4,257,735 shares of the company’s stock valued at $43,046,000 after buying an additional 1,579,182 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of Celcuity in the first quarter valued at approximately $215,000. Tema Etfs LLC acquired a new stake in shares of Celcuity in the first quarter valued at approximately $158,000. Trexquant Investment LP lifted its position in shares of Celcuity by 131.3% in the first quarter. Trexquant Investment LP now owns 26,920 shares of the company’s stock valued at $272,000 after buying an additional 15,280 shares during the last quarter. Finally, EntryPoint Capital LLC increased its stake in shares of Celcuity by 18.4% during the first quarter. EntryPoint Capital LLC now owns 24,687 shares of the company’s stock worth $250,000 after purchasing an additional 3,840 shares during the period. 63.33% of the stock is owned by institutional investors and hedge funds.

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.