Celcuity's (CELC) Buy Rating Reaffirmed at Needham & Company LLC

Key Points

• Celcuity's stock (NASDAQ:CELC) received a reaffirmed "buy" rating from Needham & Company LLC, with a price target of $29.00, indicating a potential upside of 110.60% from its previous close.
• Institutional investors are actively increasing their stakes in Celcuity, with Baker BROS. Advisors boosting their holdings by 59.0% in the first quarter, now owning over 4.2 million shares.
• In its latest earnings report, Celcuity beat consensus estimates by reporting an EPS of ($0.86), compared to the expected ($0.95).

Celcuity (NASDAQ:CELC - Get Free Report)'s stock had its "buy" rating reiterated by Needham & Company LLC in a research note issued on Monday,Benzinga reports. They presently have a $29.00 price target on the stock. Needham & Company LLC's price target would suggest a potential upside of 110.60% from the company's previous close.

A number of other research firms also recently weighed in on CELC. HC Wainwright reaffirmed a "buy" rating and set a $27.00 price target on shares of Celcuity in a research note on Monday, May 19th. Stifel Nicolaus started coverage on Celcuity in a research note on Tuesday, July 1st. They set a "buy" rating and a $30.00 price target on the stock.

Celcuity Trading Down 2.0%

NASDAQ CELC opened at $13.77 on Monday. The business's 50-day moving average price is $12.42 and its two-hundred day moving average price is $11.33. Celcuity has a 12 month low of $7.57 and a 12 month high of $19.77. The firm has a market capitalization of $521.41 million, a PE ratio of -4.54 and a beta of 0.45. The company has a current ratio of 6.61, a quick ratio of 6.61 and a debt-to-equity ratio of 1.14.

Celcuity (NASDAQ:CELC - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.86) EPS for the quarter, beating analysts' consensus estimates of ($0.95) by $0.09. On average, analysts expect that Celcuity will post -2.62 EPS for the current year.

Hedge Funds Weigh In On Celcuity

Several institutional investors and hedge funds have recently bought and sold shares of CELC. Baker BROS. Advisors LP boosted its holdings in shares of Celcuity by 59.0% in the first 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 period. Soleus Capital Management L.P. boosted its holdings 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 acquiring an additional 1,319,700 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Celcuity by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 1,651,981 shares of the company's stock worth $21,624,000 after acquiring an additional 24,429 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Celcuity by 9.8% in the fourth quarter. Geode Capital Management LLC now owns 692,372 shares of the company's stock worth $9,065,000 after acquiring an additional 62,003 shares during the period. Finally, Janus Henderson Group PLC bought a new position in shares of Celcuity in the fourth quarter worth $8,468,000. 63.33% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.