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

Celcuity (NASDAQ:CELC)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports. They currently have a $23.00 target price on the stock. Needham & Company LLC’s target price would suggest a potential upside of 63.00% from the company’s previous close.

Other analysts have also recently issued reports about the company. Stifel Nicolaus upped their price target on Celcuity from $39.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, October 7th. HC Wainwright reiterated a “buy” rating and set a $27.00 target price on shares of Celcuity in a research report on Thursday, August 15th. Lifesci Capital began coverage on shares of Celcuity in a research report on Monday, August 26th. They issued an “outperform” rating and a $27.00 price target on the stock. Leerink Partners assumed coverage on shares of Celcuity in a research note on Monday, July 22nd. They set an “outperform” rating and a $29.00 price objective on the stock. Finally, Leerink Partnrs raised Celcuity to a “strong-buy” rating in a report on Monday, July 22nd. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $29.17.

Celcuity Stock Down 3.6 %

CELC opened at $14.11 on Friday. The company has a market capitalization of $522.49 million, a P/E ratio of -5.15 and a beta of 0.76. The company has a debt-to-equity ratio of 0.54, a current ratio of 14.95 and a quick ratio of 14.95. The firm’s fifty day moving average price is $15.23 and its two-hundred day moving average price is $16.07. Celcuity has a fifty-two week low of $11.79 and a fifty-two week high of $22.19.

Celcuity (NASDAQ:CELC) last posted its earnings results on Wednesday, August 14th. The company reported ($0.62) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.09. During the same quarter in the prior year, the firm posted ($0.66) earnings per share. On average, analysts anticipate that Celcuity will post -2.54 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CELC. nVerses Capital LLC acquired a new position in shares of Celcuity during the third quarter valued at $33,000. Prospera Private Wealth LLC acquired a new position in Celcuity during the 3rd quarter valued at about $35,000. Values First Advisors Inc. bought a new position in shares of Celcuity in the 3rd quarter valued at about $86,000. Quest Partners LLC grew its position in shares of Celcuity by 31.3% during the 2nd quarter. Quest Partners LLC now owns 5,788 shares of the company’s stock worth $95,000 after buying an additional 1,379 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Celcuity during the third quarter worth approximately $119,000. 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.