Celcuity (NASDAQ:CELC) Given New $29.00 Price Target at Needham & Company LLC

Celcuity (NASDAQ:CELC) had its price target raised by Needham & Company LLC from $23.00 to $29.00 in a report released on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

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

Celcuity Trading Down 1.2 %

Shares of NASDAQ:CELC opened at $12.59 on Thursday. The firm has a market capitalization of $467.47 million, a price-to-earnings ratio of -4.82 and a beta of 0.73. The business’s 50 day moving average price is $12.31 and its 200-day moving average price is $14.46. The company has a debt-to-equity ratio of 0.65, a current ratio of 10.35 and a quick ratio of 10.36. Celcuity has a 1 year low of $10.35 and a 1 year high of $22.19.

Institutional Investors Weigh In On Celcuity

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acuta Capital Partners LLC raised its position in shares of Celcuity by 3.6% in the third quarter. Acuta Capital Partners LLC now owns 46,600 shares of the company’s stock valued at $695,000 after buying an additional 1,600 shares during the last quarter. nVerses Capital LLC purchased a new stake in Celcuity during the 3rd quarter valued at about $33,000. Prospera Private Wealth LLC acquired a new stake in Celcuity in the 3rd quarter valued at about $35,000. New York State Common Retirement Fund lifted its stake in Celcuity by 14.9% in the 4th quarter. New York State Common Retirement Fund now owns 28,391 shares of the company’s stock worth $372,000 after purchasing an additional 3,682 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new position in Celcuity in the 3rd quarter worth approximately $86,000. 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.