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

Celcuity (NASDAQ:CELC)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $29.00 target price on the stock. Needham & Company LLC’s target price suggests a potential upside of 167.03% from the company’s previous close.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $27.00 price target on shares of Celcuity in a research report on Tuesday, April 1st. Six research 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 currently has a consensus rating of “Buy” and an average target price of $30.17.

Celcuity Stock Up 0.4%

CELC stock opened at $10.86 on Thursday. The company has a quick ratio of 10.36, a current ratio of 10.35 and a debt-to-equity ratio of 0.65. Celcuity has a twelve month low of $7.58 and a twelve month high of $19.77. The business’s 50-day moving average price is $10.14 and its 200-day moving average price is $11.77. The stock has a market cap of $410.93 million, a P/E ratio of -4.16 and a beta of 0.56.

Celcuity (NASDAQ:CELC) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.09. On average, equities research analysts forecast that Celcuity will post -2.62 EPS for the current year.

Institutional Trading of Celcuity

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Celcuity by 1,237.4% in the 1st quarter. GAMMA Investing LLC now owns 1,324 shares of the company’s stock worth $131,000 after purchasing an additional 1,225 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in Celcuity by 49.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,421 shares of the company’s stock valued at $45,000 after purchasing an additional 1,132 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in Celcuity during the fourth quarter worth $50,000. Focus Financial Network Inc. bought a new position in Celcuity in the 1st quarter worth $108,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Celcuity in the 4th quarter worth $142,000. 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.