Needham & Company LLC Forecasts Strong Price Appreciation for Celcuity (NASDAQ:CELC) Stock

Celcuity (NASDAQ:CELC) had its price objective hoisted by research analysts at Needham & Company LLC from $23.00 to $29.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 127.63% from the stock’s current price.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $27.00 target price on shares of Celcuity in a report on Friday, November 15th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $30.17.

Celcuity Price Performance

Shares of NASDAQ:CELC opened at $12.74 on Thursday. The company has a quick ratio of 10.36, a current ratio of 10.35 and a debt-to-equity ratio of 0.65. Celcuity has a one year low of $10.35 and a one year high of $22.19. The company has a 50-day simple moving average of $12.31 and a 200-day simple moving average of $14.46.

Hedge Funds Weigh In On Celcuity

A number of institutional investors have recently modified their holdings of the company. nVerses Capital LLC purchased a new stake in Celcuity in the 3rd quarter worth approximately $33,000. Prospera Private Wealth LLC acquired a new stake in shares of Celcuity during the third quarter worth $35,000. Values First Advisors Inc. purchased a new stake in shares of Celcuity in the third quarter valued at $86,000. SG Americas Securities LLC acquired a new position in Celcuity in the third quarter valued at $119,000. Finally, Bleakley Financial Group LLC purchased a new position in Celcuity during the fourth quarter worth about $146,000. 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.