Celcuity (NASDAQ:CELC) Given New $140.00 Price Target at Needham & Company LLC

Key Points

• Needham lowered Celcuity’s price target to $140 from $157 while maintaining a “Buy” rating, implying roughly 61.7% upside from the reported $86.60 share price.
• Analyst sentiment remains broadly positive, with 10 Buy ratings and one Sell rating; the consensus price target is $153.64, though other firms have also recently adjusted their targets.
• Celcuity shares fell 6.0% after the company reported a quarterly loss of $1.44 per share, missing estimates by $0.28, while revenue of $0.09 million was far below the $4.42 million consensus forecast.

Celcuity (NASDAQ:CELC - Get Free Report) had its target price dropped by equities researchers at Needham & Company LLC from $157.00 to $140.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's target price would suggest a potential upside of 61.66% from the company's current price.

CELC has been the topic of several other research reports. Wall Street Zen cut shares of Celcuity from a "hold" rating to a "sell" rating in a research report on Saturday, April 25th. Leerink Partners set a $155.00 price target on shares of Celcuity in a research report on Tuesday, June 2nd. 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 research report on Wednesday, June 3rd. HC Wainwright boosted their price objective on shares of Celcuity from $145.00 to $155.00 and gave the company a "buy" rating in a report on Wednesday, July 15th. Finally, Macquarie Infrastructure set a $160.00 price target on shares of Celcuity in a research report on Thursday, May 28th. Ten investment 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, Celcuity currently has an average rating of "Moderate Buy" and a consensus price target of $153.64.

Celcuity Trading Down 6.0%

Shares of Celcuity stock opened at $86.60 on Friday. The stock has a market cap of $4.22 billion, a P/E ratio of -22.21 and a beta of 0.20. The stock's 50 day simple moving average is $93.81 and its 200-day simple moving average is $108.56. Celcuity has a 1-year low of $44.42 and a 1-year high of $151.02. The company has a debt-to-equity ratio of 6.04, a current ratio of 12.31 and a quick ratio of 12.31.

Celcuity (NASDAQ:CELC - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($1.44) EPS for the quarter, missing the consensus estimate of ($1.16) by ($0.28). The company had revenue of $0.09 million during the quarter, compared to analysts' expectations of $4.42 million. Analysts predict that Celcuity will post -3.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Celcuity

Institutional investors have recently bought and sold shares of the company. Avoro Capital Advisors LLC acquired a new stake in shares of Celcuity during the fourth quarter worth about $310,302,000. NEA Management Company LLC increased its stake in Celcuity by 64.9% during the 4th quarter. NEA Management Company LLC now owns 3,535,561 shares of the company's stock worth $352,637,000 after buying an additional 1,391,300 shares during the period. State Street Corp lifted its holdings in Celcuity by 126.6% during the 4th quarter. State Street Corp now owns 1,637,687 shares of the company's stock worth $163,343,000 after buying an additional 914,887 shares in the last quarter. UBS Group AG boosted its position in Celcuity by 910.1% in the 3rd quarter. UBS Group AG now owns 854,483 shares of the company's stock valued at $42,211,000 after buying an additional 769,891 shares during the period. Finally, Deerfield Management Company L.P. acquired a new position in shares of Celcuity in the third quarter worth $36,236,000. 63.33% of the stock is owned by institutional investors and hedge funds.

About Celcuity

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.

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