Celcuity (NASDAQ:CELC) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Celcuity (NASDAQ:CELC) in a research note issued to investors on Friday morning,Benzinga reports. They currently have a $23.00 price objective on the stock.

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

Celcuity Trading Down 1.6 %

NASDAQ CELC opened at $12.46 on Friday. The firm has a market capitalization of $461.39 million, a price-to-earnings ratio of -4.77 and a beta of 0.76. The company has a debt-to-equity ratio of 0.54, a quick ratio of 14.95 and a current ratio of 14.95. Celcuity has a one year low of $11.51 and a one year high of $22.19. The company’s 50 day moving average price is $15.15 and its 200 day moving average price is $16.03.

Institutional Investors Weigh In On Celcuity

A number of hedge funds have recently bought and sold shares of CELC. Baker BROS. Advisors LP raised its position in shares of Celcuity by 189.9% in the 1st quarter. Baker BROS. Advisors LP now owns 1,552,478 shares of the company’s stock valued at $33,534,000 after purchasing an additional 1,017,000 shares in the last quarter. Samlyn Capital LLC raised its holdings in Celcuity by 92.4% in the second quarter. Samlyn Capital LLC now owns 1,326,953 shares of the company’s stock valued at $21,735,000 after acquiring an additional 637,190 shares in the last quarter. State Street Corp raised its holdings in Celcuity by 152.2% in the third quarter. State Street Corp now owns 1,107,415 shares of the company’s stock valued at $16,512,000 after acquiring an additional 668,318 shares in the last quarter. Braidwell LP grew its holdings in Celcuity by 71.2% during the 3rd quarter. Braidwell LP now owns 884,306 shares of the company’s stock worth $13,185,000 after acquiring an additional 367,663 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Celcuity by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 828,597 shares of the company’s stock worth $17,898,000 after purchasing an additional 7,821 shares during the last quarter. Institutional investors and hedge funds own 63.33% of the company’s stock.

About Celcuity

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.