Celcuity (NASDAQ:CELC) Price Target Cut to $134.00 by Analysts at Needham & Company LLC

Key Points

• Needham & Company lowered Celcuity’s price target from $140 to $134 but maintained a “buy” rating, implying approximately 71% upside from the stock’s $78.28 price.
• Analyst sentiment remains broadly positive: 11 analysts rate Celcuity a Buy and one rates it a Sell, producing a “Moderate Buy” consensus and an average target price of $154.25.
• Celcuity shares rose 1.2% to $78.28, while the company reported quarterly EPS of negative $1.44, missing the consensus estimate of negative $1.16. Institutional investors own 63.33% of the stock.

Celcuity (NASDAQ:CELC - Get Free Report) had its price target dropped by research analysts at Needham & Company LLC from $140.00 to $134.00 in a report released on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's target price would suggest a potential upside of 71.18% from the company's current price.

A number of other equities research analysts have also commented on CELC. Wall Street Zen lowered Celcuity from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Craig Hallum restated a "buy" rating and set a $178.00 price objective on shares of Celcuity in a research report on Wednesday, July 15th. Citizens Jmp reaffirmed a "market outperform" rating and issued a $177.00 price objective on shares of Celcuity in a research note on Monday, August 17th. Wells Fargo & Company reduced their target price on Celcuity from $183.00 to $166.00 and set an "overweight" rating on the stock in a report on Wednesday, June 3rd. Finally, Leerink Partners set a $155.00 target price on shares of Celcuity in a research report on Tuesday, June 2nd. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $154.25.

Celcuity Trading Up 1.2%

Shares of NASDAQ:CELC traded up $0.90 during mid-day trading on Wednesday, reaching $78.28. 1,533,475 shares of the company's stock were exchanged, compared to its average volume of 1,067,881. 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 twelve month low of $44.42 and a twelve month high of $151.02. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of -18.24 and a beta of 0.19. The business's fifty day moving average price is $88.21 and its 200-day moving average price is $103.65.

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

Institutional Investors Weigh In On Celcuity

Several large investors have recently added to or reduced their stakes in the business. Avoro Capital Advisors LLC acquired a new position in Celcuity in the fourth quarter valued at approximately $310,302,000. Bank of America Corp DE acquired a new position in shares of Celcuity during the 2nd quarter valued at $153,928,000. Wellington Management Group LLP lifted its position in shares of Celcuity by 111.4% during the 2nd 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 period. Geode Capital Management LLC boosted its stake in Celcuity by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 830,684 shares of the company's stock worth $82,872,000 after acquiring an additional 64,213 shares in the last quarter. Finally, Capitolis Liquid Global Markets LLC bought a new position in Celcuity during the fourth quarter worth $35,428,000. Institutional investors and hedge funds own 63.33% of the company's stock.

Celcuity Company Profile

Celcuity, Inc is a biotechnology company focused on advancing personalized medicine through functional diagnostics. Its technology is designed to analyze living tumor cells obtained from patient tissue and identify abnormal signaling activity that may influence how a cancer responds to specific therapies.

The company's primary platform, CELsignia, uses proprietary assays to measure the activity of cellular signaling pathways in a patient's tumor cells. Celcuity develops these tests for use in oncology drug development, patient selection, and potentially as companion diagnostics to help identify patients who are most likely to benefit from targeted treatments.

Celcuity works with biopharmaceutical companies and research organizations to evaluate drug-response biomarkers and support precision oncology programs.

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