Needham & Company LLC Cuts Celcuity (NASDAQ:CELC) Price Target to $134.00

Celcuity (NASDAQ:CELC) had its price objective dropped by Needham & Company LLC from $140.00 to $134.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 71.18% from the stock’s current price.

A number of other brokerages have also commented on CELC. Leerink Partners set a $155.00 price target on shares of Celcuity in a research note on Tuesday, June 2nd. Wells Fargo & Company dropped their price objective on shares of Celcuity from $183.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 3rd. Guggenheim lifted their price objective on shares of Celcuity from $165.00 to $175.00 and gave the company a “buy” rating in a report on Monday, August 17th. Stifel Nicolaus decreased their target price on shares of Celcuity from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $177.00 target price on shares of Celcuity in a research report on Monday, August 17th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $154.25.

Celcuity Stock Up 1.2%

Celcuity stock traded up $0.90 during midday trading on Wednesday, reaching $78.28. The stock had a trading volume of 1,533,475 shares, compared to its average volume of 1,067,881. The company has a fifty day moving average price of $88.21 and a two-hundred day moving average price of $103.65. Celcuity has a 12 month low of $44.42 and a 12 month high of $151.02. The company has a current ratio of 8.93, a quick ratio of 8.93 and a debt-to-equity ratio of 6.04. The company has a market capitalization of $3.83 billion, a P/E ratio of -18.24 and a beta of 0.19.

Celcuity (NASDAQ:CELC) last issued its earnings results on Thursday, August 13th. The company reported ($1.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.28). As a group, equities analysts expect that Celcuity will post -4.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its position in Celcuity by 358.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 15,958 shares of the company’s stock worth $1,670,000 after purchasing an additional 12,476 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of Celcuity during the 2nd quarter worth approximately $480,000. IFP Advisors Inc bought a new position in shares of Celcuity during the 2nd quarter worth approximately $73,000. Nykredit A S purchased a new position in shares of Celcuity in the 2nd quarter worth approximately $119,000. Finally, Corient Private Wealth LP bought a new position in shares of Celcuity in the second quarter valued at approximately $1,258,000. 63.33% of the stock is currently owned by hedge funds and other institutional investors.

About Celcuity

Celcuity, Inc is a biotechnology company focused on advancing personalized medicine through functional diagnostics. Its technology is designed to analyze living tumor cells obtained from patient tissue and identify abnormal signaling activity that may influence how a cancer responds to specific therapies.

The company’s primary platform, CELsignia, uses proprietary assays to measure the activity of cellular signaling pathways in a patient’s tumor cells. Celcuity develops these tests for use in oncology drug development, patient selection, and potentially as companion diagnostics to help identify patients who are most likely to benefit from targeted treatments.

Celcuity works with biopharmaceutical companies and research organizations to evaluate drug-response biomarkers and support precision oncology programs.