Celcuity’s (CELC) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Celcuity (NASDAQ:CELC) in a research note released on Thursday morning, MarketBeat.com reports. The brokerage currently has a $122.00 target price on the stock.

Several other research analysts have also commented on the company. Wolfe Research reissued an “outperform” rating and set a $110.00 price objective on shares of Celcuity in a report on Thursday, March 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celcuity in a research note on Wednesday, January 21st. Wells Fargo & Company began coverage on shares of Celcuity in a research note on Friday, December 12th. They issued an “overweight” rating and a $126.00 price target for the company. Finally, Jefferies Financial Group increased their price target on shares of Celcuity from $108.00 to $134.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $109.88.

Celcuity Trading Down 7.7%

Shares of CELC stock opened at $106.02 on Thursday. The company has a market capitalization of $4.91 billion, a PE ratio of -27.97 and a beta of 0.38. Celcuity has a 52-week low of $7.57 and a 52-week high of $120.32. The business’s fifty day moving average is $109.49 and its 200 day moving average is $90.95. The company has a debt-to-equity ratio of 2.74, a quick ratio of 12.26 and a current ratio of 12.26.

Celcuity (NASDAQ:CELC) last posted its earnings results on Wednesday, March 25th. The company reported ($0.97) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.09. On average, equities research analysts anticipate that Celcuity will post -2.62 EPS for the current fiscal year.

Insider Activity at Celcuity

In other news, Director David Dalvey sold 20,000 shares of the stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $120.03, for a total transaction of $2,400,600.00. Following the transaction, the director directly owned 90,000 shares in the company, valued at approximately $10,802,700. This represents a 18.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 15.77% of the company’s stock.

Institutional Trading of Celcuity

Several hedge funds and other institutional investors have recently bought and sold shares of CELC. Vanguard Group Inc. increased its stake in shares of Celcuity by 23.5% in the third quarter. Vanguard Group Inc. now owns 2,059,047 shares of the company’s stock worth $101,717,000 after buying an additional 391,262 shares during the period. New York State Common Retirement Fund boosted its position in Celcuity by 68.0% during the 3rd quarter. New York State Common Retirement Fund now owns 47,704 shares of the company’s stock valued at $2,357,000 after buying an additional 19,313 shares during the period. Atle Fund Management AB bought a new stake in Celcuity in the 3rd quarter worth $1,836,000. Candriam S.C.A. grew its holdings in Celcuity by 48.3% in the 3rd quarter. Candriam S.C.A. now owns 390,924 shares of the company’s stock worth $19,312,000 after acquiring an additional 127,348 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Celcuity by 2,142.0% in the third quarter. Nisa Investment Advisors LLC now owns 15,627 shares of the company’s stock valued at $772,000 after acquiring an additional 14,930 shares during the period. Hedge funds and other institutional investors own 63.33% of the company’s stock.

Celcuity Company Profile

Celcuity, Inc is a clinical-stage biotechnology company specializing in precision oncology diagnostics. The company develops and commercializes predictive biomarker assays designed to identify which patients are most likely to benefit from targeted cancer therapies. By integrating functional profiling of tumor cells with molecular analyses, Celcuity seeks to optimize treatment selection and improve outcomes for patients with solid tumors.

Celcuity’s proprietary platform evaluates tumor cell sensitivity to various therapeutic agents using ex vivo assays that measure DNA damage response and other critical pathways.