Celcuity (NASDAQ:CELC) Price Target Lowered to $140.00 at Needham & Company LLC

Celcuity (NASDAQ:CELC) had its price target decreased by Needham & Company LLC from $157.00 to $140.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 61.66% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Citigroup reissued an “outperform” rating on shares of Celcuity in a research report on Wednesday, July 15th. Craig Hallum reaffirmed a “buy” rating and set a $178.00 price objective on shares of Celcuity in a research note on Wednesday, July 15th. Guggenheim restated a “buy” rating on shares of Celcuity in a report on Wednesday, June 3rd. Citizens Jmp increased their target price on shares of Celcuity from $160.00 to $177.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 15th. Finally, HC Wainwright raised their price objective on Celcuity from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Celcuity has an average rating of “Moderate Buy” and an average target price of $153.64.

Celcuity Stock Down 6.0%

CELC opened at $86.60 on Friday. The business has a 50 day moving average price of $93.81 and a two-hundred day moving average price of $108.56. Celcuity has a 52 week low of $44.42 and a 52 week high of $151.02. The company has a quick ratio of 12.31, a current ratio of 12.31 and a debt-to-equity ratio of 6.04. The company has a market cap of $4.22 billion, a PE ratio of -22.21 and a beta of 0.20.

Celcuity (NASDAQ:CELC) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($1.44) EPS for the quarter, missing the consensus estimate of ($1.16) by ($0.28). The firm had revenue of $0.09 million during the quarter, compared to analyst estimates of $4.42 million. As a group, research analysts anticipate that Celcuity will post -3.76 EPS for the current year.

Hedge Funds Weigh In On Celcuity

A number of institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC bought a new stake in shares of Celcuity in the 4th quarter worth about $1,058,000. California State Teachers Retirement System raised its stake in shares of Celcuity by 91.2% in the 1st quarter. California State Teachers Retirement System now owns 25,580 shares of the company’s stock valued at $2,920,000 after purchasing an additional 12,201 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Celcuity during the fourth quarter worth about $22,911,000. Geode Capital Management LLC grew its stake in Celcuity by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 830,684 shares of the company’s stock worth $82,872,000 after purchasing an additional 64,213 shares in the last quarter. Finally, TD Asset Management Inc grew its stake in Celcuity by 34.0% in the fourth quarter. TD Asset Management Inc now owns 97,526 shares of the company’s stock worth $9,727,000 after purchasing an additional 24,730 shares in the last quarter. Institutional investors and hedge funds own 63.33% of the company’s stock.

About Celcuity

Celcuity, Inc is a clinical-stage biotechnology company specializing in precision oncology diagnostics. The company develops and commercializes predictive biomarker assays designed to identify which patients are most likely to benefit from targeted cancer therapies. By integrating functional profiling of tumor cells with molecular analyses, Celcuity seeks to optimize treatment selection and improve outcomes for patients with solid tumors.

Celcuity’s proprietary platform evaluates tumor cell sensitivity to various therapeutic agents using ex vivo assays that measure DNA damage response and other critical pathways.