Celcuity (NASDAQ:CELC) Given New $29.00 Price Target at Needham & Company LLC

Celcuity (NASDAQ:CELC) had its target price increased by investment analysts at Needham & Company LLC from $23.00 to $29.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 136.73% from the company’s previous close.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $27.00 target price on shares of Celcuity in a report on Friday, November 15th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Celcuity currently has an average rating of “Buy” and an average target price of $30.17.

Celcuity Stock Performance

Shares of Celcuity stock opened at $12.25 on Thursday. The firm’s fifty day simple moving average is $12.31 and its 200-day simple moving average is $14.45. The stock has a market capitalization of $454.84 million, a price-to-earnings ratio of -4.69 and a beta of 0.73. Celcuity has a 12 month low of $10.35 and a 12 month high of $22.19. The company has a debt-to-equity ratio of 0.65, a current ratio of 10.35 and a quick ratio of 10.36.

Hedge Funds Weigh In On Celcuity

Institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets increased its stake in Celcuity by 2,083.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 45,110 shares of the company’s stock valued at $673,000 after buying an additional 43,044 shares during the period. Geode Capital Management LLC increased its stake in Celcuity by 27.6% in the 3rd quarter. Geode Capital Management LLC now owns 630,369 shares of the company’s stock valued at $9,401,000 after buying an additional 136,518 shares during the period. State Street Corp increased its stake in Celcuity by 152.2% in the 3rd quarter. State Street Corp now owns 1,107,415 shares of the company’s stock valued at $16,512,000 after buying an additional 668,318 shares during the period. Braidwell LP increased its stake in Celcuity by 71.2% in the 3rd quarter. Braidwell LP now owns 884,306 shares of the company’s stock valued at $13,185,000 after buying an additional 367,663 shares during the period. Finally, Barclays PLC grew its stake in shares of Celcuity by 567.6% during the 3rd quarter. Barclays PLC now owns 53,605 shares of the company’s stock worth $800,000 after purchasing an additional 45,576 shares during the period. 63.33% of the stock is owned by institutional investors and hedge funds.

Celcuity Company Profile

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.