Celcuity (NASDAQ:CELC) Given New $50.00 Price Target at HC Wainwright

Key Points

• HC Wainwright raised Celcuity's price target to $50.00, up from $27.00, indicating a potential upside of 27.74% from the stock's previous close.
• Celcuity's stock experienced significant trading activity, with 22.8 million shares traded, pushing the price up to $39.14 during midday trading.
• Institutional investors hold approximately 63.33% of Celcuity's stock, with notable increases in holdings from firms such as Baker BROS. Advisors and Ameriprise Financial.

Celcuity (NASDAQ:CELC - Get Free Report) had its target price lifted by equities researchers at HC Wainwright from $27.00 to $50.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's price objective suggests a potential upside of 24.86% from the company's current price.

CELC has been the subject of several other research reports. Stifel Nicolaus started coverage on shares of Celcuity in a research note on Tuesday, July 1st. They issued a "buy" rating and a $30.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and issued a $29.00 price objective on shares of Celcuity in a report on Monday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Celcuity presently has a consensus rating of "Buy" and a consensus target price of $39.20.

Celcuity Trading Up 8.8%

Shares of Celcuity stock traded up $3.26 on Monday, reaching $40.05. The company had a trading volume of 1,203,380 shares, compared to its average volume of 444,820. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -13.34 and a beta of 0.45. The company has a debt-to-equity ratio of 1.14, a current ratio of 6.61 and a quick ratio of 6.61. Celcuity has a 1 year low of $7.57 and a 1 year high of $46.42. The firm's 50-day moving average price is $12.94 and its two-hundred day moving average price is $11.50.

Celcuity (NASDAQ:CELC - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.95) by $0.09. As a group, research analysts predict that Celcuity will post -2.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Celcuity

Several large investors have recently modified their holdings of CELC. Baker BROS. Advisors LP increased its position in shares of Celcuity by 59.0% during the 1st quarter. Baker BROS. Advisors LP now owns 4,257,735 shares of the company's stock valued at $43,046,000 after purchasing an additional 1,579,182 shares during the last quarter. Soleus Capital Management L.P. lifted its position in shares of Celcuity by 106.0% in the fourth quarter. Soleus Capital Management L.P. now owns 2,565,087 shares of the company's stock worth $33,577,000 after buying an additional 1,319,700 shares during the last quarter. Janus Henderson Group PLC bought a new position in Celcuity during the fourth quarter valued at about $8,468,000. Ameriprise Financial Inc. boosted its stake in shares of Celcuity by 45.9% during the 4th quarter. Ameriprise Financial Inc. now owns 447,171 shares of the company's stock worth $5,853,000 after buying an additional 140,642 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Celcuity during the first quarter valued at approximately $704,000. 63.33% of the stock is currently owned by institutional investors and hedge funds.

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.