Celcuity (NASDAQ:CELC) Stock Price Expected to Rise, HC Wainwright Analyst Says

Key Points

• HC Wainwright has raised its target price for Celcuity (NASDAQ:CELC) from $66.00 to $77.00, indicating a potential upside of 17.56%.
• Despite the positive outlook, Celcuity reported a loss of ($1.04) earnings per share for the last quarter, missing estimates.
• Celcuity's stock has seen significant changes in institutional ownership, with 63.33% of the company's stock now owned by institutional investors and hedge funds.

Celcuity (NASDAQ:CELC - Get Free Report) had its target price hoisted by equities research analysts at HC Wainwright from $66.00 to $77.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's target price would suggest a potential upside of 17.56% from the company's previous close.

CELC has been the topic of a number of other research reports. Guggenheim initiated coverage on Celcuity in a report on Monday, September 22nd. They set a "buy" rating on the stock. Stifel Nicolaus initiated coverage on Celcuity in a report on Tuesday, July 1st. They set a "buy" rating and a $30.00 price objective on the stock. Needham & Company LLC set a $95.00 price objective on Celcuity in a report on Monday. Weiss Ratings reissued a "sell (d-)" rating on shares of Celcuity in a report on Wednesday, October 8th. Finally, Wall Street Zen raised Celcuity from a "sell" rating to a "hold" rating in a report on Saturday. Five 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, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $65.50.

Celcuity Stock Down 7.2%

CELC stock opened at $65.50 on Wednesday. The company has a debt-to-equity ratio of 2.24, a quick ratio of 4.58 and a current ratio of 4.58. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of -18.99 and a beta of 0.70. Celcuity has a fifty-two week low of $7.57 and a fifty-two week high of $83.00. The stock has a fifty day moving average of $52.55 and a 200-day moving average of $28.38.

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

Insider Buying and Selling at Celcuity

In other Celcuity news, Director David Dalvey sold 100,000 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $43.98, for a total value of $4,398,000.00. Following the sale, the director owned 125,000 shares of the company's stock, valued at $5,497,500. This trade represents a 44.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 15.78% of the stock is currently owned by insiders.

Institutional Trading of Celcuity

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets raised its holdings in shares of Celcuity by 78.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,647 shares of the company's stock valued at $35,000 after acquiring an additional 1,167 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Celcuity by 211.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,549 shares of the company's stock valued at $74,000 after buying an additional 3,766 shares in the last quarter. Avanza Fonder AB purchased a new position in shares of Celcuity during the 3rd quarter valued at about $79,000. AlphaQuest LLC raised its holdings in shares of Celcuity by 176.3% during the 2nd quarter. AlphaQuest LLC now owns 7,087 shares of the company's stock valued at $95,000 after buying an additional 4,522 shares in the last quarter. Finally, Perkins Capital Management Inc. purchased a new position in shares of Celcuity during the 1st quarter valued at about $115,000. Hedge funds and other institutional investors own 63.33% of the company's stock.

About Celcuity

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.

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