Celcuity (NASDAQ:CELC) Stock Gets Downgrade from Zacks Research

Celcuity (NASDAQ:CELC) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday, Zacks reports.

A number of other research firms have also recently weighed in on CELC. HC Wainwright reissued a “buy” rating and set a $155.00 price objective on shares of Celcuity in a report on Friday, August 14th. Craig Hallum restated a “buy” rating and issued a $178.00 target price on shares of Celcuity in a report on Wednesday, July 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celcuity in a research note on Tuesday, September 1st. Citigroup reiterated a “market outperform” rating on shares of Celcuity in a research note on Monday, August 17th. Finally, Needham & Company LLC reduced their price target on shares of Celcuity from $140.00 to $134.00 and set a “buy” rating for the company in a research report on Wednesday, September 30th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.25.

Celcuity Price Performance

Shares of NASDAQ CELC opened at $59.90 on Tuesday. The company has a debt-to-equity ratio of 6.04, a quick ratio of 8.93 and a current ratio of 8.93. Celcuity has a fifty-two week low of $46.51 and a fifty-two week high of $151.02. The firm has a market capitalization of $2.93 billion, a PE ratio of -13.93 and a beta of 0.10. The stock’s 50-day simple moving average is $84.33 and its 200-day simple moving average is $100.43.

Celcuity (NASDAQ:CELC) last posted its earnings results on Thursday, August 13th. The company reported ($1.44) earnings per share for the quarter, missing the consensus estimate of ($1.16) by ($0.28). As a group, equities research analysts forecast that Celcuity will post -4.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Celcuity

A number of hedge funds have recently modified their holdings of CELC. Parallel Advisors LLC purchased a new stake in shares of Celcuity in the first quarter valued at about $38,000. PNC Financial Services Group Inc. boosted its stake in shares of Celcuity by 20.1% during the first quarter. PNC Financial Services Group Inc. now owns 514 shares of the company’s stock worth $59,000 after buying an additional 86 shares during the period. KBC Group NV acquired a new stake in shares of Celcuity during the first quarter worth about $64,000. IFP Advisors Inc acquired a new stake in shares of Celcuity during the second quarter worth about $73,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Celcuity by 139.1% during the first quarter. EverSource Wealth Advisors LLC now owns 820 shares of the company’s stock worth $94,000 after buying an additional 477 shares during the last quarter. 63.33% of the stock is currently owned by hedge funds and other institutional investors.

Celcuity Company Profile

Celcuity, Inc is a clinical-stage biotechnology company that develops functional diagnostic tests designed to help identify patients who may benefit from targeted cancer therapies. The company’s technology is intended to measure the activity of cellular signaling networks in living tumor cells, rather than relying solely on the presence or absence of individual biomarkers.

Celcuity’s proprietary CELsignia platform analyzes patient tumor samples to identify abnormal signaling activity associated with cancer growth and treatment response.