Brokerages Set Celcuity Inc. (NASDAQ:CELC) Target Price at $29.17

Celcuity Inc. (NASDAQ:CELC) has been given an average rating of “Buy” by the seven ratings firms that are covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $29.17.

CELC has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price target on shares of Celcuity in a research note on Friday, November 15th. Stifel Nicolaus raised their target price on Celcuity from $39.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $27.00 price target on shares of Celcuity in a research note on Friday, November 15th.

Celcuity Stock Performance

NASDAQ:CELC opened at $11.25 on Tuesday. The company has a quick ratio of 10.36, a current ratio of 10.35 and a debt-to-equity ratio of 0.65. Celcuity has a twelve month low of $10.35 and a twelve month high of $22.19. The company has a fifty day moving average of $12.88 and a 200-day moving average of $15.02. The firm has a market capitalization of $417.71 million, a P/E ratio of -4.31 and a beta of 0.74.

Hedge Funds Weigh In On Celcuity

A number of hedge funds have recently added to or reduced their stakes in the stock. Samlyn Capital LLC raised its stake in shares of Celcuity by 92.4% in the second quarter. Samlyn Capital LLC now owns 1,326,953 shares of the company’s stock worth $21,735,000 after purchasing an additional 637,190 shares during the last quarter. State Street Corp boosted its position in shares of Celcuity by 152.2% during 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 last quarter. Braidwell LP grew its holdings in Celcuity by 71.2% during the third quarter. Braidwell LP now owns 884,306 shares of the company’s stock worth $13,185,000 after buying an additional 367,663 shares in the last quarter. Geode Capital Management LLC raised its position in Celcuity by 27.6% in the 3rd quarter. Geode Capital Management LLC now owns 630,369 shares of the company’s stock valued at $9,401,000 after buying an additional 136,518 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Celcuity by 226.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 221,671 shares of the company’s stock valued at $3,305,000 after acquiring an additional 153,712 shares in the last quarter. Institutional investors and hedge funds 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.