Celcuity’s (CELC) Buy Rating Reiterated at Needham & Company LLC

Celcuity (NASDAQ:CELC)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They currently have a $29.00 target price on the stock. Needham & Company LLC’s price target suggests a potential upside of 186.84% from the stock’s previous close.

Separately, HC Wainwright reiterated a “buy” rating and set a $27.00 target price on shares of Celcuity in a report on Tuesday. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Celcuity currently has an average rating of “Buy” and a consensus price target of $30.17.

Celcuity Stock Down 1.3 %

Shares of NASDAQ:CELC opened at $10.11 on Tuesday. Celcuity has a one year low of $8.53 and a one year high of $22.04. The stock has a market cap of $375.38 million, a price-to-earnings ratio of -3.87 and a beta of 0.65. The company has a debt-to-equity ratio of 0.65, a current ratio of 10.35 and a quick ratio of 10.36. The company has a 50 day moving average of $11.18 and a 200-day moving average of $12.91.

Celcuity (NASDAQ:CELC) last announced its quarterly earnings results on Monday, March 31st. The company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.13). On average, sell-side analysts forecast that Celcuity will post -2.62 earnings per share for the current year.

Institutional Investors Weigh In On Celcuity

Several large investors have recently added to or reduced their stakes in CELC. Summit Investment Advisors Inc. raised its stake in Celcuity by 49.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,421 shares of the company’s stock worth $45,000 after buying an additional 1,132 shares during the period. Aquatic Capital Management LLC acquired a new position in shares of Celcuity during the fourth quarter worth approximately $50,000. The Manufacturers Life Insurance Company bought a new position in shares of Celcuity in the 4th quarter worth $142,000. Bleakley Financial Group LLC acquired a new stake in Celcuity in the 4th quarter valued at $146,000. Finally, Trexquant Investment LP acquired a new stake in Celcuity in the 4th quarter valued at $152,000. 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.