Celcuity (NASDAQ:CELC) Stock Rating Reaffirmed by Needham & Company LLC

Celcuity (NASDAQ:CELC)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a report released on Friday, Benzinga reports. They currently have a $24.00 price objective on the stock. Needham & Company LLC’s price target would suggest a potential upside of 31.08% from the stock’s current price.

A number of other research firms have also recently weighed in on CELC. Craig Hallum lifted their price target on Celcuity from $20.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Stifel Nicolaus assumed coverage on Celcuity in a report on Thursday, February 22nd. They set a “buy” rating and a $40.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $27.00 price target on shares of Celcuity in a report on Thursday, March 28th.

Celcuity Stock Performance

Shares of CELC stock opened at $18.31 on Friday. The company has a quick ratio of 13.43, a current ratio of 13.43 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average of $17.42 and a two-hundred day moving average of $14.36. Celcuity has a 52 week low of $8.39 and a 52 week high of $22.19. The company has a market cap of $557.54 million, a P/E ratio of -6.81 and a beta of 0.78.

Institutional Investors Weigh In On Celcuity

Hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in Celcuity by 7.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 27,276 shares of the company’s stock worth $256,000 after purchasing an additional 1,989 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Celcuity by 143.3% during the first quarter. Renaissance Technologies LLC now owns 74,356 shares of the company’s stock worth $695,000 after purchasing an additional 43,800 shares in the last quarter. State Street Corp raised its holdings in Celcuity by 3.1% during the first quarter. State Street Corp now owns 148,802 shares of the company’s stock worth $1,391,000 after purchasing an additional 4,466 shares in the last quarter. Millennium Management LLC raised its holdings in Celcuity by 50.4% during the second quarter. Millennium Management LLC now owns 509,247 shares of the company’s stock worth $4,634,000 after purchasing an additional 170,617 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in Celcuity during the second quarter worth approximately $256,000. Institutional investors own 63.33% of the company’s stock.

About Celcuity

Celcuity Inc, a clinical stage biotechnology company, focuses on the development of molecularly targeted therapies for cancer patients 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.