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

Celcuity (NASDAQ:CELC)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research note issued on Thursday, MarketBeat.com reports. They presently have a $122.00 price objective on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 15.07% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Jefferies Financial Group raised their target price on Celcuity from $108.00 to $134.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celcuity in a report on Wednesday, January 21st. Wolfe Research reiterated an “outperform” rating and issued a $110.00 price target on shares of Celcuity in a research note on Thursday, March 12th. Finally, Wells Fargo & Company initiated coverage on shares of Celcuity in a report on Friday, December 12th. They set an “overweight” rating and a $126.00 price objective on the stock. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Celcuity currently has an average rating of “Moderate Buy” and an average target price of $109.88.

Celcuity Stock Performance

NASDAQ:CELC opened at $106.02 on Thursday. Celcuity has a 12 month low of $7.57 and a 12 month high of $120.32. The company has a debt-to-equity ratio of 2.74, a current ratio of 12.26 and a quick ratio of 12.26. The firm has a market capitalization of $4.91 billion, a PE ratio of -27.97 and a beta of 0.38. The business’s fifty day moving average price is $109.49 and its 200 day moving average price is $90.74.

Celcuity (NASDAQ:CELC) last announced its quarterly earnings results on Wednesday, March 25th. The company reported ($0.97) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.09. On average, sell-side analysts anticipate that Celcuity will post -2.62 earnings per share for the current fiscal year.

Insider Activity at Celcuity

In other news, Director David Dalvey sold 20,000 shares of Celcuity stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $120.03, for a total transaction of $2,400,600.00. Following the sale, the director owned 90,000 shares in the company, valued at approximately $10,802,700. The trade was a 18.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 15.77% of the company’s stock.

Institutional Trading of Celcuity

A number of large investors have recently made changes to their positions in CELC. Vanguard Group Inc. boosted its holdings in shares of Celcuity by 23.5% in the third quarter. Vanguard Group Inc. now owns 2,059,047 shares of the company’s stock valued at $101,717,000 after acquiring an additional 391,262 shares during the period. New York State Common Retirement Fund grew its position in shares of Celcuity by 68.0% during the third quarter. New York State Common Retirement Fund now owns 47,704 shares of the company’s stock worth $2,357,000 after acquiring an additional 19,313 shares during the last quarter. Atle Fund Management AB acquired a new position in shares of Celcuity in the 3rd quarter valued at $1,836,000. Candriam S.C.A. increased its holdings in shares of Celcuity by 48.3% in the 3rd quarter. Candriam S.C.A. now owns 390,924 shares of the company’s stock valued at $19,312,000 after acquiring an additional 127,348 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in Celcuity by 2,142.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 15,627 shares of the company’s stock valued at $772,000 after purchasing an additional 14,930 shares during the last quarter. 63.33% of the stock is owned by institutional investors and hedge funds.

Celcuity Company Profile

Celcuity, Inc is a clinical-stage biotechnology company specializing in precision oncology diagnostics. The company develops and commercializes predictive biomarker assays designed to identify which patients are most likely to benefit from targeted cancer therapies. By integrating functional profiling of tumor cells with molecular analyses, Celcuity seeks to optimize treatment selection and improve outcomes for patients with solid tumors.

Celcuity’s proprietary platform evaluates tumor cell sensitivity to various therapeutic agents using ex vivo assays that measure DNA damage response and other critical pathways.