Celcuity (NASDAQ:CELC) Lifted to Hold at Zacks Investment Research

Celcuity (NASDAQ:CELC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Celcuity Inc. is a cellular analysis company. It engaged in discovering new cancer sub-types and commercializing diagnostic tests designed to significantly improve the clinical outcomes of cancer patients treated with targeted therapies. The company’s proprietary CELx diagnostic platform uses a patient’s living tumor cells to identify the specific abnormal cellular activity driving a patient’s cancer and the targeted therapy. Celcuity Inc. is based in Minneapolis, United States. “

Several other equities research analysts also recently weighed in on CELC. Needham & Company LLC started coverage on shares of Celcuity in a research note on Tuesday, August 10th. They issued a “buy” rating and a $50.00 target price for the company. Jefferies Financial Group started coverage on shares of Celcuity in a research note on Tuesday, September 7th. They issued a “buy” rating and a $48.00 target price for the company. Cowen started coverage on shares of Celcuity in a research note on Thursday, July 29th. They issued an “outperform” rating for the company. Finally, Canaccord Genuity started coverage on shares of Celcuity in a research note on Friday, October 8th. They issued a “buy” rating and a $50.00 target price for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $39.00.

Shares of NASDAQ:CELC opened at $18.86 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 27.51 and a current ratio of 27.51. The firm’s 50 day simple moving average is $20.11 and its 200-day simple moving average is $22.83. Celcuity has a one year low of $5.10 and a one year high of $33.01. The firm has a market cap of $281.11 million, a PE ratio of -10.19 and a beta of 1.55.

Celcuity (NASDAQ:CELC) last released its quarterly earnings data on Sunday, August 8th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.73). Equities research analysts predict that Celcuity will post -1.89 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE acquired a new position in Celcuity during the second quarter worth about $41,000. Deutsche Bank AG acquired a new position in Celcuity during the second quarter worth about $114,000. Pinz Capital Management LP acquired a new position in Celcuity during the second quarter worth about $120,000. Royal Bank of Canada boosted its position in Celcuity by 21.1% during the first quarter. Royal Bank of Canada now owns 5,750 shares of the company’s stock worth $82,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Morgan Stanley boosted its position in Celcuity by 66.1% during the first quarter. Morgan Stanley now owns 6,795 shares of the company’s stock worth $97,000 after acquiring an additional 2,705 shares during the last quarter. 42.74% of the stock is owned by institutional investors.

About Celcuity

Celcuity, Inc is cellular analysis company. The company discovers new cancer sub-types and commercializing diagnostic tests designed to improve the clinical outcomes of cancer patients treated with targeted therapies. Its proprietary CELx diagnostic platform is the commercially ready technology that uses a patient’s living tumor cells to identify the specific abnormal cellular process driving a patient’s cancer and the targeted therapy that treats it.

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