Celcuity, Inc. (NASDAQ:CELC) Receives $56.50 Average Price Target from Analysts

Key Points

• Celcuity, Inc. (NASDAQ:CELC) has received a consensus rating of "Buy" from five research firms, with an average price target of $56.50.
• Despite the positive ratings, the company reported a quarterly earnings miss, posting earnings per share of ($1.04), which was below analysts' estimates of ($0.90).
• Significant insider activity includes Director David Dalvey selling 100,000 shares at an average price of $43.98, reducing his ownership by 44.44%.

Shares of Celcuity, Inc. (NASDAQ:CELC - Get Free Report) have earned a consensus rating of "Buy" from the five ratings firms that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $56.50.

Several research firms recently commented on CELC. Stifel Nicolaus started coverage on shares of Celcuity in a research note on Tuesday, July 1st. They set a "buy" rating and a $30.00 target price for the company. Needham & Company LLC dropped their price target on shares of Celcuity from $74.00 to $70.00 and set a "buy" rating on the stock in a research note on Friday, August 15th. Guggenheim assumed coverage on shares of Celcuity in a research note on Monday. They issued a "buy" rating on the stock. Leerink Partners raised their target price on shares of Celcuity from $28.00 to $60.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Finally, HC Wainwright increased their price target on shares of Celcuity from $50.00 to $66.00 and gave the company a "buy" rating in a report on Monday, August 18th.

Insider Activity

In related news, Director David Dalvey sold 100,000 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $43.98, for a total transaction of $4,398,000.00. Following the completion of the sale, the director owned 125,000 shares in the company, valued at $5,497,500. This trade represents a 44.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 15.78% of the stock is owned by company insiders.

Institutional Investors Weigh In On Celcuity

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baker BROS. Advisors LP boosted its stake in Celcuity by 59.0% during the 1st quarter. Baker BROS. Advisors LP now owns 4,257,735 shares of the company's stock worth $43,046,000 after acquiring an additional 1,579,182 shares during the last quarter. Soleus Capital Management L.P. lifted its position in shares of Celcuity by 17.0% in the second quarter. Soleus Capital Management L.P. now owns 3,011,818 shares of the company's stock worth $40,208,000 after purchasing an additional 437,696 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Celcuity in the second quarter worth $3,197,000. Ameriprise Financial Inc. raised its position in Celcuity by 27.6% during the second quarter. Ameriprise Financial Inc. now owns 768,796 shares of the company's stock worth $10,263,000 after acquiring an additional 166,324 shares in the last quarter. Finally, Eventide Asset Management LLC raised its position in Celcuity by 9.8% during the second quarter. Eventide Asset Management LLC now owns 1,389,427 shares of the company's stock worth $18,549,000 after acquiring an additional 123,774 shares in the last quarter. Institutional investors and hedge funds own 63.33% of the company's stock.

Celcuity Stock Up 1.2%

Shares of CELC traded up $0.61 during midday trading on Monday, hitting $52.49. The company had a trading volume of 732,135 shares, compared to its average volume of 845,951. The company's 50 day moving average price is $43.64 and its 200 day moving average price is $22.42. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of -15.21 and a beta of 0.72. Celcuity has a 52 week low of $7.57 and a 52 week high of $63.06. The company has a quick ratio of 4.58, a current ratio of 4.58 and a debt-to-equity ratio of 2.24.

Celcuity (NASDAQ:CELC - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.14). On average, equities research analysts predict that Celcuity will post -2.62 EPS for the current year.

Celcuity Company Profile

Celcuity Inc, a clinical stage biotechnology company, focuses on the development of targeted therapies for the treatment of various solid tumors in the United States. The company's CELsignia diagnostic platform uses a patient's living tumor cells to identify the specific abnormal cellular process driving a patient's cancer and the related targeted therapy for the treatment.