Needham & Company LLC Reiterates Buy Rating for Celcuity (NASDAQ:CELC)

Celcuity (NASDAQ:CELC)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a report issued on Friday,Benzinga reports. They presently have a $23.00 target price on the stock. Needham & Company LLC’s target price would indicate a potential upside of 81.67% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Leerink Partnrs raised Celcuity to a “strong-buy” rating in a research report on Monday, July 22nd. Lifesci Capital started coverage on shares of Celcuity in a research note on Monday, August 26th. They issued an “outperform” rating and a $27.00 price target for the company. Leerink Partners initiated coverage on shares of Celcuity in a report on Monday, July 22nd. They set an “outperform” rating and a $29.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $27.00 price objective on shares of Celcuity in a report on Thursday, August 15th. Finally, Stifel Nicolaus boosted their target price on shares of Celcuity from $39.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $29.17.

Celcuity Price Performance

Celcuity stock opened at $12.66 on Friday. The company has a quick ratio of 14.95, a current ratio of 14.95 and a debt-to-equity ratio of 0.54. Celcuity has a 52-week low of $11.51 and a 52-week high of $22.19. The firm has a market cap of $468.80 million, a PE ratio of -4.62 and a beta of 0.76. The company’s 50 day moving average is $15.15 and its two-hundred day moving average is $16.04.

Celcuity (NASDAQ:CELC) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.09. During the same period last year, the firm earned ($0.66) earnings per share. On average, research analysts expect that Celcuity will post -2.54 EPS for the current fiscal year.

Institutional Trading of Celcuity

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Samlyn Capital LLC grew its position in shares of Celcuity by 92.4% in the 2nd quarter. Samlyn Capital LLC now owns 1,326,953 shares of the company’s stock valued at $21,735,000 after buying an additional 637,190 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Celcuity in the first quarter valued at $3,545,000. Driehaus Capital Management LLC grew its holdings in shares of Celcuity by 62.3% during the second quarter. Driehaus Capital Management LLC now owns 204,592 shares of the company’s stock worth $3,351,000 after purchasing an additional 78,525 shares during the last quarter. Blue Owl Capital Holdings LP purchased a new position in shares of Celcuity during the second quarter worth about $1,065,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Celcuity during the second quarter worth about $888,000. 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.