Celcuity (NASDAQ:CELC) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Celcuity (NASDAQ:CELC) had its price objective hoisted by analysts at Needham & Company LLC from $23.00 to $29.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective points to a potential upside of 136.73% from the stock’s previous close.

Separately, HC Wainwright reiterated a “buy” rating and issued a $27.00 price target on shares of Celcuity in a research note on Friday, November 15th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $30.17.

Celcuity Stock Down 2.7 %

Shares of Celcuity stock opened at $12.25 on Thursday. Celcuity has a 52-week low of $10.35 and a 52-week high of $22.19. The company has a 50 day moving average of $12.31 and a 200 day moving average of $14.45. The company has a quick ratio of 10.36, a current ratio of 10.35 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $454.84 million, a P/E ratio of -4.69 and a beta of 0.73.

Institutional Trading of Celcuity

Several institutional investors have recently modified their holdings of CELC. State Street Corp lifted its position in shares of Celcuity by 152.2% during the 3rd quarter. State Street Corp now owns 1,107,415 shares of the company’s stock worth $16,512,000 after buying an additional 668,318 shares during the last quarter. Braidwell LP lifted its position in shares of Celcuity by 71.2% during the 3rd quarter. Braidwell LP now owns 884,306 shares of the company’s stock worth $13,185,000 after buying an additional 367,663 shares during the last quarter. Candriam S.C.A. purchased a new stake in shares of Celcuity during the 4th quarter worth approximately $3,450,000. Charles Schwab Investment Management Inc. lifted its position in shares of Celcuity by 226.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 221,671 shares of the company’s stock worth $3,305,000 after buying an additional 153,712 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Celcuity by 27.6% during the 3rd quarter. Geode Capital Management LLC now owns 630,369 shares of the company’s stock worth $9,401,000 after buying an additional 136,518 shares during the last quarter. Hedge funds and other institutional investors own 63.33% of the company’s stock.

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.