Leerink Partnrs Upgrades Celcuity (NASDAQ:CELC) to Strong-Buy

Leerink Partnrs upgraded shares of Celcuity (NASDAQ:CELC) to a strong-buy rating in a research note released on Monday, Zacks.com reports. Leerink Partnrs also issued estimates for Celcuity’s Q2 2024 earnings at ($0.72) EPS, Q3 2024 earnings at ($0.77) EPS, Q4 2024 earnings at ($0.74) EPS, FY2024 earnings at ($2.88) EPS, FY2025 earnings at ($3.43) EPS, FY2026 earnings at ($2.61) EPS and FY2027 earnings at $1.16 EPS.

Several other analysts also recently weighed in on CELC. Needham & Company LLC lowered their target price on shares of Celcuity from $24.00 to $23.00 and set a buy rating on the stock in a report on Friday, May 31st. Craig Hallum reaffirmed a buy rating and issued a $27.00 price objective (up previously from $25.00) on shares of Celcuity in a report on Thursday, May 16th. Stifel Nicolaus reissued a buy rating and set a $40.00 target price on shares of Celcuity in a research note on Thursday, May 16th. HC Wainwright restated a buy rating and issued a $27.00 price target on shares of Celcuity in a research note on Thursday, May 16th. Finally, SVB Leerink began coverage on Celcuity in a report on Monday. They set an outperform rating and a $29.00 price objective on the stock. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $29.20.

Celcuity Stock Up 2.5 %

Celcuity stock opened at $19.15 on Monday. The stock has a market capitalization of $672.17 million, a price-to-earnings ratio of -6.89 and a beta of 0.81. The company has a current ratio of 11.23, a quick ratio of 11.23 and a debt-to-equity ratio of 0.28. The stock has a 50 day moving average of $16.21 and a two-hundred day moving average of $16.55. Celcuity has a twelve month low of $8.39 and a twelve month high of $22.19.

Celcuity (NASDAQ:CELC) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.07. As a group, research analysts expect that Celcuity will post -2.85 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Perceptive Advisors LLC acquired a new stake in shares of Celcuity in the 4th quarter worth approximately $21,583,000. Baker BROS. Advisors LP grew its holdings in 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 purchasing an additional 1,017,000 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Celcuity in the first quarter valued at $3,545,000. Commodore Capital LP raised its stake 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 buying an additional 60,563 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in shares of Celcuity during the 2nd quarter worth $888,000. 63.33% of the stock is owned by hedge funds and other institutional investors.

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.