Cantor Fitzgerald Initiates Coverage on Celcuity (NASDAQ:CELC)

Key Points

• Cantor Fitzgerald initiated coverage of Celcuity with an “overweight” rating and a $140 price target, implying approximately 127% upside from the reported $61.56 share price.
• Analyst sentiment is broadly positive: 13 analysts rate Celcuity a Buy and two rate it a Sell, resulting in a “Moderate Buy” consensus and an average target price of $152.57.
• Celcuity reported a quarterly loss of $1.44 per share, missing the $1.16 consensus estimate, while institutional investors own 63.33% of the company.

Equities researchers at Cantor Fitzgerald initiated coverage on shares of Celcuity (NASDAQ:CELC - Get Free Report) in a report released on Thursday, Briefing.com reports. The brokerage set an "overweight" rating and a $140.00 price target on the stock. Cantor Fitzgerald's target price would suggest a potential upside of 127.42% from the stock's current price.

CELC has been the topic of several other reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Celcuity in a research report on Tuesday, September 1st. Wall Street Zen downgraded Celcuity from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. TD Cowen reiterated a "buy" rating and set a $145.00 target price on shares of Celcuity in a report on Wednesday. Craig Hallum restated a "buy" rating and set a $178.00 target price on shares of Celcuity in a research note on Wednesday, July 15th. Finally, Needham & Company LLC cut their target price on Celcuity from $140.00 to $134.00 and set a "buy" rating on the stock in a research report on Wednesday, September 30th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Celcuity presently has an average rating of "Moderate Buy" and a consensus target price of $152.57.

Celcuity Stock Up 2.6%

NASDAQ:CELC opened at $61.56 on Thursday. The firm's fifty day simple moving average is $81.10 and its 200-day simple moving average is $98.61. The company has a quick ratio of 8.93, a current ratio of 8.93 and a debt-to-equity ratio of 6.04. Celcuity has a fifty-two week low of $53.54 and a fifty-two week high of $151.02.

Celcuity (NASDAQ:CELC - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($1.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.28). Sell-side analysts predict that Celcuity will post -4.82 earnings per share for the current year.

Hedge Funds Weigh In On Celcuity

Large investors have recently made changes to their positions in the business. Bank of America Corp DE acquired a new position in shares of Celcuity in the 2nd quarter worth $153,928,000. Assenagon Asset Management S.A. raised its position in Celcuity by 685.9% during the third quarter. Assenagon Asset Management S.A. now owns 1,478,607 shares of the company's stock valued at $117,579,000 after buying an additional 1,290,466 shares during the period. Wellington Management Group LLP raised its position in Celcuity by 111.4% during the second quarter. Wellington Management Group LLP now owns 906,595 shares of the company's stock valued at $94,848,000 after buying an additional 477,643 shares during the period. Bank of New York Mellon Corp acquired a new stake in Celcuity during the 2nd quarter worth about $12,175,000. Finally, Alyeska Investment Group L.P. grew its stake in Celcuity by 127.2% during the 2nd quarter. Alyeska Investment Group L.P. now owns 170,846 shares of the company's stock valued at $17,874,000 after acquiring an additional 95,664 shares in the last quarter. Institutional investors own 63.33% of the company's stock.

Celcuity Company Profile

Celcuity, Inc is a clinical-stage biotechnology company developing functional diagnostic tests designed to help identify cancer treatments that may be most effective for individual patients. Its technology analyzes living tumor cells taken from patients to measure how signaling pathways respond to different therapies, with the goal of supporting more personalized treatment decisions.

The company's CELsignia platform is designed to assess the activity of cancer-related signaling pathways in patient-derived cells.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.