Leerink Partners Issues Positive Forecast for Celcuity (NASDAQ:CELC) Stock Price

Key Points

• Leerink Partners has significantly raised the price target for Celcuity (NASDAQ:CELC) from $28.00 to $60.00, suggesting a potential upside of 63.09% from its current price.
• Celcuity's stock has seen a remarkable increase of 167.2% recently, with trading volumes far exceeding the average.
• Multiple analysts have issued "buy" ratings for Celcuity, resulting in an average target price of $39.20 across various research reports.

Celcuity (NASDAQ:CELC - Get Free Report) had its price objective upped by stock analysts at Leerink Partners from $28.00 to $60.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Leerink Partners' price objective would suggest a potential upside of 50.60% from the stock's previous close.

Other equities analysts have also issued research reports about the stock. Needham & Company LLC reiterated a "buy" rating and issued a $29.00 target price on shares of Celcuity in a research report on Monday. HC Wainwright raised their price objective on shares of Celcuity from $27.00 to $50.00 and gave the company a "buy" rating in a research report on Monday. Finally, Stifel Nicolaus initiated coverage on shares of Celcuity in a research report on Tuesday, July 1st. They set a "buy" rating and a $30.00 price objective for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $39.20.

Celcuity Price Performance

CELC traded up $0.67 on Monday, reaching $39.84. The company had a trading volume of 443,047 shares, compared to its average volume of 529,488. The company has a fifty day moving average of $14.09 and a 200-day moving average of $11.89. The company has a market capitalization of $1.55 billion, a P/E ratio of -13.10 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 has a one year low of $7.57 and a one year high of $46.42.

Celcuity (NASDAQ:CELC - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.86) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.95) by $0.09. As a group, equities research analysts anticipate 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 shares were sold at an average price of $43.98, for a total value of $4,398,000.00. Following the completion of the transaction, the director directly owned 125,000 shares in the company, valued at $5,497,500. This trade represents a 44.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 15.77% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Celcuity by 1,237.4% in the first quarter. GAMMA Investing LLC now owns 1,324 shares of the company's stock worth $131,000 after buying an additional 1,225 shares during the period. Summit Investment Advisors Inc. boosted its holdings in shares of Celcuity by 49.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,421 shares of the company's stock worth $45,000 after buying an additional 1,132 shares during the period. Aquatic Capital Management LLC acquired a new position in shares of Celcuity in the fourth quarter worth about $50,000. AlphaQuest LLC boosted its holdings in shares of Celcuity by 176.3% in the second quarter. AlphaQuest LLC now owns 7,087 shares of the company's stock worth $95,000 after buying an additional 4,522 shares during the period. Finally, Focus Financial Network Inc. acquired a new position in shares of Celcuity in the first quarter worth about $108,000. 63.33% of the stock is currently owned by institutional investors and hedge funds.

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.