Celcuity (NASDAQ:CELC) Reaches New 1-Year High Following Strong Earnings

Shares of Celcuity, Inc. (NASDAQ:CELC) reached a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $83.22 and last traded at $81.33, with a volume of 366228 shares changing hands. The stock had previously closed at $79.17.

The company reported ($0.92) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.13.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. HC Wainwright upped their target price on Celcuity from $66.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Wall Street Zen lowered shares of Celcuity from a “hold” rating to a “sell” rating in a report on Sunday, October 26th. Leerink Partners raised their price objective on shares of Celcuity from $28.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celcuity in a research report on Wednesday, October 8th. Finally, Guggenheim began coverage on shares of Celcuity in a research report on Monday, September 22nd. They issued a “buy” rating for the company. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Celcuity presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.50.

Hedge Funds Weigh In On Celcuity

Several institutional investors have recently added to or reduced their stakes in CELC. US Bancorp DE grew its stake in Celcuity by 25.4% during the third quarter. US Bancorp DE now owns 706 shares of the company’s stock worth $35,000 after buying an additional 143 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Celcuity by 1.2% in the second quarter. Rhumbline Advisers now owns 42,697 shares of the company’s stock valued at $570,000 after acquiring an additional 503 shares during the last quarter. Ogorek Anthony Joseph NY ADV acquired a new position in shares of Celcuity in the 3rd quarter worth approximately $27,000. Intech Investment Management LLC grew its position in Celcuity by 5.2% during the 2nd quarter. Intech Investment Management LLC now owns 14,855 shares of the company’s stock worth $198,000 after acquiring an additional 734 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Celcuity by 78.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,647 shares of the company’s stock valued at $35,000 after purchasing an additional 1,167 shares in the last quarter. 63.33% of the stock is owned by institutional investors.

Celcuity Price Performance

The stock has a fifty day moving average of $59.62 and a two-hundred day moving average of $35.51. The company has a current ratio of 4.58, a quick ratio of 4.58 and a debt-to-equity ratio of 2.24. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of -24.68 and a beta of 0.72.

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.