Celcuity (NASDAQ:CELC) Given New $169.00 Price Target at Guggenheim

Key Points

• Guggenheim lowered its price target on Celcuity from $171 to $169 but maintained a Buy rating; the new target implies 161.08% upside from the prior close.
• Analyst views are mostly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $152.14, based on 13 Buy, one Hold, and two Sell ratings.
• Celcuity reported quarterly EPS of -$1.21, beating the consensus estimate of -$1.51. Its shares traded at $64.73 on Friday, within a 52-week range of $53.54 to $151.02.

Celcuity (NASDAQ:CELC - Get Free Report) had its price target dropped by Guggenheim from $171.00 to $169.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Guggenheim's price target suggests a potential upside of 161.08% from the company's previous close.

Other equities research analysts also recently issued research reports about the company. Citigroup reissued a "market outperform" rating on shares of Celcuity in a report on Monday, October 19th. Citizens Jmp reissued a "market outperform" rating and issued a $177.00 target price on shares of Celcuity in a research report on Monday, August 17th. Needham & Company LLC decreased their price target on shares of Celcuity from $140.00 to $134.00 and set a "buy" rating on the stock in a research note on Wednesday, September 30th. Zacks Research lowered shares of Celcuity from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 13th. Finally, Craig Hallum reaffirmed a "buy" rating and set a $178.00 price target on shares of Celcuity in a research report on Wednesday, July 15th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $152.14.

Celcuity Stock Performance

NASDAQ:CELC traded up $0.69 during mid-day trading on Friday, hitting $64.73. 260,266 shares of the stock were exchanged, compared to its average volume of 1,145,478. The firm's 50-day simple moving average is $75.64 and its 200 day simple moving average is $99.57. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of -15.06 and a beta of 0.16. Celcuity has a fifty-two week low of $53.54 and a fifty-two week high of $151.02. 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 (NASDAQ:CELC - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($1.21) EPS for the quarter, beating analysts' consensus estimates of ($1.51) by $0.30. As a group, equities analysts anticipate that Celcuity will post -4.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Celcuity

Large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE acquired a new stake in shares of Celcuity during the 2nd quarter worth approximately $153,928,000. Assenagon Asset Management S.A. increased its stake in Celcuity by 685.9% in 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 acquiring an additional 1,290,466 shares during the last quarter. Wellington Management Group LLP increased its stake in Celcuity by 111.4% in the second quarter. Wellington Management Group LLP now owns 906,595 shares of the company's stock valued at $94,848,000 after acquiring an additional 477,643 shares during the last quarter. Jennison Associates LLC raised its position in Celcuity by 0.6% during the first quarter. Jennison Associates LLC now owns 231,140 shares of the company's stock valued at $26,382,000 after purchasing an additional 1,436 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its position in Celcuity by 10,659.7% during the third quarter. Pictet Asset Management Holding SA now owns 291,049 shares of the company's stock valued at $23,144,000 after purchasing an additional 288,344 shares in the last quarter. Institutional investors and hedge funds own 63.33% of the company's stock.

About Celcuity

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.

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