Celcuity (NASDAQ:CELC) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Celcuity (NASDAQ:CELC) from a sell rating to a hold rating in a research report report published on Tuesday, Zacks.com reports.

According to Zacks, “Celcuity Inc. is a cellular analysis company. It engaged in discovering new cancer sub-types and commercializing diagnostic tests designed to significantly improve the clinical outcomes of cancer patients treated with targeted therapies. The company’s proprietary CELx diagnostic platform uses a patient’s living tumor cells to identify the specific abnormal cellular activity driving a patient’s cancer and the targeted therapy. Celcuity Inc. is based in Minneapolis, United States. “

Separately, initiated coverage on Celcuity in a report on Friday, October 8th. They set a buy rating and a $50.00 price target on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Buy and an average price target of $39.00.

NASDAQ:CELC opened at $11.53 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 32.30 and a quick ratio of 32.30. The business’s 50-day simple moving average is $14.26 and its two-hundred day simple moving average is $18.27. Celcuity has a 52 week low of $10.50 and a 52 week high of $33.01.

Celcuity (NASDAQ:CELC) last posted its quarterly earnings results on Sunday, November 7th. The company reported ($0.41) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.10). During the same quarter last year, the company earned ($0.24) earnings per share. As a group, analysts expect that Celcuity will post -1.77 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sphera Funds Management LTD. purchased a new position in Celcuity in the second quarter worth about $1,080,000. BlackRock Inc. grew its position in Celcuity by 538.5% in the second quarter. BlackRock Inc. now owns 378,277 shares of the company’s stock worth $9,079,000 after acquiring an additional 319,034 shares in the last quarter. Maven Securities LTD purchased a new position in shares of Celcuity during the second quarter valued at approximately $2,856,000. Jefferies Group LLC purchased a new position in shares of Celcuity during the second quarter valued at approximately $4,661,000. Finally, Laurion Capital Management LP purchased a new position in shares of Celcuity during the second quarter valued at approximately $1,318,000. Institutional investors own 38.16% of the company’s stock.

Celcuity Company Profile

Celcuity, Inc is cellular analysis company. The company discovers new cancer sub-types and commercializing diagnostic tests designed to improve the clinical outcomes of cancer patients treated with targeted therapies. Its proprietary CELx diagnostic platform is the commercially ready technology that uses a patient’s living tumor cells to identify the specific abnormal cellular process driving a patient’s cancer and the targeted therapy that treats it.

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Analyst Recommendations for Celcuity (NASDAQ:CELC)

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