Needham & Company LLC Reiterates "Buy" Rating for Celcuity (NASDAQ:CELC)

Key Points

• Needham & Company LLC has reiterated its "Buy" rating for Celcuity (NASDAQ:CELC) with a target price of $70.00, indicating a potential upside of 34.72% from the current price.
• Celcuity's average rating stands at "Moderate Buy" with analysts projecting an average price target of $56.50 amidst recent price upgrades from various analysts.
• Recent insider trading showed Director David Dalvey selling 100,000 shares for approximately $4.4 million, decreasing his position by 44.44% while corporate insiders own 15.78% of the stock.

Celcuity (NASDAQ:CELC - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Needham & Company LLC in a research note issued to investors on Monday,Benzinga reports. They presently have a $70.00 price target on the stock. Needham & Company LLC's target price indicates a potential upside of 34.72% from the company's current price.

A number of other analysts have also commented on the company. HC Wainwright boosted their target price on Celcuity from $50.00 to $66.00 and gave the company a "buy" rating in a research report on Monday, August 18th. Stifel Nicolaus initiated coverage on shares of Celcuity in a report on Tuesday, July 1st. They issued a "buy" rating and a $30.00 price target on the stock. Guggenheim began coverage on shares of Celcuity in a report on Monday, September 22nd. They set a "buy" rating on the stock. Leerink Partners upped their price target on shares of Celcuity from $28.00 to $60.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Finally, Wall Street Zen upgraded 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 stock. According to data from MarketBeat, Celcuity has an average rating of "Moderate Buy" and an average price target of $56.50.

Celcuity Price Performance

NASDAQ:CELC opened at $51.96 on Monday. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -15.06 and a beta of 0.70. The company has a quick ratio of 4.58, a current ratio of 4.58 and a debt-to-equity ratio of 2.24. Celcuity has a 12-month low of $7.57 and a 12-month high of $63.06. The stock's 50 day moving average price is $51.77 and its two-hundred day moving average price is $27.69.

Celcuity (NASDAQ:CELC - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($1.04) earnings per share for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.14). On average, 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 Celcuity stock in a transaction on 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 sale, the director directly owned 125,000 shares in the company, valued at approximately $5,497,500. The trade was a 44.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 15.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CELC. Trexquant Investment LP increased its stake in shares of Celcuity by 131.3% in the first quarter. Trexquant Investment LP now owns 26,920 shares of the company's stock worth $272,000 after acquiring an additional 15,280 shares during the period. Baker BROS. Advisors LP raised its stake in Celcuity by 59.0% during the first quarter. Baker BROS. Advisors LP now owns 4,257,735 shares of the company's stock worth $43,046,000 after purchasing an additional 1,579,182 shares during the period. Rhumbline Advisers raised its stake in shares of Celcuity by 8.9% in the 1st quarter. Rhumbline Advisers now owns 42,194 shares of the company's stock valued at $427,000 after acquiring an additional 3,439 shares during the period. Nuveen LLC purchased a new stake in shares of Celcuity in the 1st quarter valued at approximately $704,000. Finally, GAMMA Investing LLC increased its stake in Celcuity by 1,237.4% during the 1st 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. 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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