Celcuity (NASDAQ:CELC) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Celcuity (NASDAQ:CELC) in a research report sent to investors on Friday morning, Benzinga reports. They currently have a $24.00 price objective on the stock.

A number of other research analysts have also recently commented on CELC. HC Wainwright reissued a buy rating and set a $27.00 target price on shares of Celcuity in a research report on Thursday, March 28th. Craig Hallum boosted their target price on shares of Celcuity from $20.00 to $25.00 and gave the stock a buy rating in a research report on Thursday, March 28th. Finally, Stifel Nicolaus initiated coverage on shares of Celcuity in a research report on Thursday, February 22nd. They set a buy rating and a $40.00 target price on the stock.

Celcuity Trading Down 7.0 %

NASDAQ CELC opened at $18.31 on Friday. The company’s fifty day simple moving average is $17.42 and its 200-day simple moving average is $14.40. Celcuity has a 52 week low of $8.39 and a 52 week high of $22.19. The company has a current ratio of 13.43, a quick ratio of 13.43 and a debt-to-equity ratio of 0.26. The stock has a market cap of $557.54 million, a P/E ratio of -6.81 and a beta of 0.78.

Institutional Trading of Celcuity

A number of hedge funds and other institutional investors have recently made changes to their positions in CELC. Perceptive Advisors LLC bought a new stake in shares of Celcuity in the fourth quarter worth $21,583,000. BlackRock Inc. increased its stake in shares of Celcuity by 599.7% in the second quarter. BlackRock Inc. now owns 912,972 shares of the company’s stock worth $10,024,000 after buying an additional 782,486 shares during the last quarter. Soleus Capital Management L.P. increased its stake in shares of Celcuity by 172.6% in the fourth quarter. Soleus Capital Management L.P. now owns 1,210,228 shares of the company’s stock worth $16,955,000 after buying an additional 766,316 shares during the last quarter. Captrust Financial Advisors increased its stake in Celcuity by 12,563.8% during the third quarter. Captrust Financial Advisors now owns 633,189 shares of the company’s stock valued at $6,357,000 after purchasing an additional 628,189 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of Celcuity by 23.5% during the third quarter. Morgan Stanley now owns 1,967,776 shares of the company’s stock worth $17,985,000 after purchasing an additional 374,196 shares during the period. 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 molecularly targeted therapies for cancer patients 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.