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 released on Tuesday morning,Benzinga reports. The brokerage currently has a $29.00 price objective on the stock.

Separately, HC Wainwright reiterated a “buy” rating and issued a $27.00 target price on shares of Celcuity in a research note on Tuesday. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $30.17.

Celcuity Stock Down 8.1 %

Celcuity stock opened at $9.29 on Tuesday. Celcuity has a 1-year low of $8.50 and a 1-year high of $20.89. The business has a fifty day moving average price of $11.14 and a 200-day moving average price of $12.87. The company has a debt-to-equity ratio of 0.65, a current ratio of 10.35 and a quick ratio of 10.36. The stock has a market capitalization of $344.94 million, a price-to-earnings ratio of -3.56 and a beta of 0.65.

Celcuity (NASDAQ:CELC) last released its quarterly earnings results on Monday, March 31st. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.13). Equities research analysts forecast that Celcuity will post -2.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Summit Investment Advisors Inc. lifted its holdings in shares of Celcuity by 49.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,421 shares of the company’s stock worth $45,000 after purchasing an additional 1,132 shares during the period. Aquatic Capital Management LLC purchased a new position in Celcuity during the 4th quarter worth approximately $50,000. The Manufacturers Life Insurance Company purchased a new position in Celcuity during the 4th quarter worth approximately $142,000. Bleakley Financial Group LLC acquired a new stake in Celcuity during the 4th quarter valued at approximately $146,000. Finally, Trexquant Investment LP purchased a new stake in shares of Celcuity in the 4th quarter valued at $152,000. 63.33% of the stock is owned by institutional investors and hedge funds.

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.