Celcuity (NASDAQ:CELC) Given “Buy” Rating at Needham & Company LLC

Celcuity (NASDAQ:CELC)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports. They presently have a $29.00 price objective on the stock. Needham & Company LLC’s price objective suggests a potential upside of 173.33% 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 research note on Tuesday, April 1st. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $30.80.

Celcuity Price Performance

Shares of NASDAQ CELC opened at $10.61 on Thursday. The firm has a market cap of $401.47 million, a P/E ratio of -4.07 and a beta of 0.56. The company has a current ratio of 10.35, a quick ratio of 10.36 and a debt-to-equity ratio of 0.65. Celcuity has a 1-year low of $7.58 and a 1-year high of $19.77. The business’s 50 day moving average is $10.15 and its 200-day moving average is $11.70.

Celcuity (NASDAQ:CELC) last announced its earnings results on Wednesday, May 14th. The company reported ($0.86) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.09. Equities research analysts predict that Celcuity will post -2.62 earnings per share for the current year.

Hedge Funds Weigh In On Celcuity

A number of hedge funds have recently added to or reduced their stakes in CELC. Barclays PLC increased its stake in Celcuity by 567.6% during the 3rd quarter. Barclays PLC now owns 53,605 shares of the company’s stock worth $800,000 after acquiring an additional 45,576 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in Celcuity by 97.2% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 144,032 shares of the company’s stock worth $1,885,000 after acquiring an additional 71,006 shares during the period. SG Americas Securities LLC increased its stake in Celcuity by 83.2% during the 4th quarter. SG Americas Securities LLC now owns 14,646 shares of the company’s stock worth $192,000 after acquiring an additional 6,651 shares during the period. Bleakley Financial Group LLC bought a new position in Celcuity during the 4th quarter worth $146,000. Finally, Rhumbline Advisers increased its stake in Celcuity by 20.6% during the 4th quarter. Rhumbline Advisers now owns 38,755 shares of the company’s stock worth $507,000 after acquiring an additional 6,625 shares during the period. Institutional investors 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.