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

Needham & Company LLC reiterated their buy rating on shares of Celcuity (NASDAQ:CELC) in a research note published on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a $29.00 target price on the stock.

Separately, HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of Celcuity in a research note on Tuesday. Six investment 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, Celcuity presently has an average rating of “Buy” and a consensus price target of $30.17.

Celcuity Stock Down 5.4 %

CELC stock opened at $8.85 on Tuesday. The firm has a market cap of $328.60 million, a PE ratio of -3.39 and a beta of 0.44. Celcuity has a 1 year low of $8.50 and a 1 year high of $20.89. The company has a fifty day simple moving average of $11.05 and a 200 day simple moving average of $12.82. 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 (NASDAQ:CELC) last released its earnings results on Monday, March 31st. The company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.13). Sell-side analysts anticipate that Celcuity will post -2.62 EPS for the current fiscal year.

Institutional Trading of Celcuity

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its position in shares of Celcuity by 2,083.4% during the third quarter. BNP Paribas Financial Markets now owns 45,110 shares of the company’s stock worth $673,000 after acquiring an additional 43,044 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Celcuity by 27.6% during the 3rd quarter. Geode Capital Management LLC now owns 630,369 shares of the company’s stock worth $9,401,000 after buying an additional 136,518 shares during the period. State Street Corp lifted 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 buying an additional 668,318 shares during the period. Barclays PLC boosted its stake in Celcuity by 567.6% in the third quarter. Barclays PLC now owns 53,605 shares of the company’s stock valued at $800,000 after acquiring an additional 45,576 shares during the last quarter. Finally, Bleakley Financial Group LLC acquired a new stake in Celcuity during the 4th quarter worth $146,000. 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.