Celcuity Inc. (NASDAQ:CELC) Receives Average Recommendation of “Buy” from Brokerages

Celcuity Inc. (NASDAQ:CELC) has been assigned a consensus rating of “Buy” from the six brokerages that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $29.20.

CELC has been the topic of several analyst reports. Craig Hallum reiterated a “buy” rating and set a $27.00 target price (up from $25.00) on shares of Celcuity in a research report on Thursday, May 16th. HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of Celcuity in a report on Thursday, May 16th. Leerink Partnrs raised Celcuity to a “strong-buy” rating in a report on Monday, July 22nd. Needham & Company LLC decreased their price target on Celcuity from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $40.00 target price on shares of Celcuity in a report on Thursday, May 16th.

Celcuity Stock Performance

Shares of CELC opened at $17.95 on Tuesday. The business’s fifty day simple moving average is $16.27 and its two-hundred day simple moving average is $16.63. The company has a current ratio of 11.23, a quick ratio of 11.23 and a debt-to-equity ratio of 0.28. Celcuity has a 12 month low of $8.39 and a 12 month high of $22.19. The company has a market cap of $630.05 million, a price-to-earnings ratio of -6.46 and a beta of 0.81.

Celcuity (NASDAQ:CELC) last issued its earnings results on Wednesday, May 15th. The company reported ($0.64) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.07. Research analysts anticipate that Celcuity will post -2.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Celcuity

Several hedge funds have recently made changes to their positions in CELC. Perceptive Advisors LLC purchased a new stake in Celcuity in the fourth quarter valued at $21,583,000. Commodore Capital LP raised its position in shares of Celcuity by 3.6% during the 4th quarter. Commodore Capital LP now owns 1,754,704 shares of the company’s stock worth $25,566,000 after purchasing an additional 60,563 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Celcuity in the 1st quarter valued at about $3,545,000. Trust Point Inc. acquired a new stake in Celcuity in the 4th quarter valued at about $297,000. Finally, BNP Paribas Financial Markets raised its holdings in Celcuity by 78.5% in the 1st quarter. BNP Paribas Financial Markets now owns 8,937 shares of the company’s stock valued at $193,000 after acquiring an additional 3,930 shares during the last quarter. 63.33% of the stock is 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.