Celcuity Inc. (NASDAQ:CELC) Receives $29.20 Consensus Target Price from Analysts

Shares of Celcuity Inc. (NASDAQ:CELC) have been assigned an average rating of “Buy” from the six ratings firms that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $29.20.

A number of equities research analysts have recently issued reports on CELC shares. SVB Leerink started coverage on shares of Celcuity in a research report on Monday, July 22nd. They issued an “outperform” rating and a $29.00 target price for the company. Craig Hallum reaffirmed a “buy” rating and set a $27.00 price objective (up previously from $25.00) on shares of Celcuity in a research report on Thursday, May 16th. Needham & Company LLC cut their price objective on shares of Celcuity from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Leerink Partnrs raised shares of Celcuity to a “strong-buy” rating in a research report on Monday, July 22nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $40.00 price objective on shares of Celcuity in a research report on Thursday, May 16th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its holdings in shares of Celcuity by 42.7% in the second quarter. Bank of New York Mellon Corp now owns 66,256 shares of the company’s stock worth $1,085,000 after acquiring an additional 19,811 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in shares of Celcuity in the second quarter worth about $888,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Celcuity by 7.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 22,030 shares of the company’s stock worth $361,000 after acquiring an additional 1,600 shares during the last quarter. Baker BROS. Advisors LP increased its stake in shares of Celcuity by 189.9% in the first quarter. Baker BROS. Advisors LP now owns 1,552,478 shares of the company’s stock valued at $33,534,000 after buying an additional 1,017,000 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Celcuity in the first quarter valued at approximately $3,545,000. Institutional investors own 63.33% of the company’s stock.

Celcuity Trading Down 2.2 %

Shares of Celcuity stock opened at $18.73 on Tuesday. The firm has a 50-day moving average of $16.27 and a 200-day moving average of $16.60. The stock has a market cap of $657.42 million, a PE ratio of -6.74 and a beta of 0.81. Celcuity has a 52-week low of $8.39 and a 52-week high of $22.19. The company has a debt-to-equity ratio of 0.28, a quick ratio of 11.23 and a current ratio of 11.23.

Celcuity (NASDAQ:CELC) last announced its earnings results on Wednesday, May 15th. The company reported ($0.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.07. As a group, sell-side analysts forecast that Celcuity will post -2.86 EPS for the current year.

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.