Brokerages Set Celcuity Inc. (NASDAQ:CELC) Price Target at $30.80

Celcuity Inc. (NASDAQ:CELC) has been assigned a consensus rating of “Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $30.80.

A number of analysts have commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $27.00 target price on shares of Celcuity in a report on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $29.00 price objective on shares of Celcuity in a research note on Thursday, May 15th.

Institutional Investors Weigh In On Celcuity

Hedge funds have recently bought and sold shares of the company. Baker BROS. Advisors LP grew its holdings in shares of Celcuity by 59.0% in the 1st quarter. Baker BROS. Advisors LP now owns 4,257,735 shares of the company’s stock valued at $43,046,000 after buying an additional 1,579,182 shares during the period. Soleus Capital Management L.P. grew its stake in Celcuity by 106.0% in the fourth quarter. Soleus Capital Management L.P. now owns 2,565,087 shares of the company’s stock valued at $33,577,000 after acquiring an additional 1,319,700 shares during the period. Janus Henderson Group PLC bought a new stake in shares of Celcuity in the fourth quarter worth about $8,468,000. Candriam S.C.A. bought a new stake in shares of Celcuity in the fourth quarter worth about $3,450,000. Finally, Ameriprise Financial Inc. raised its position in shares of Celcuity by 45.9% during the fourth quarter. Ameriprise Financial Inc. now owns 447,171 shares of the company’s stock worth $5,853,000 after purchasing an additional 140,642 shares during the period. 63.33% of the stock is currently owned by institutional investors and hedge funds.

Celcuity Price Performance

Celcuity stock opened at $10.60 on Monday. The business’s 50-day simple moving average is $10.17 and its 200 day simple moving average is $11.60. The company has a quick ratio of 10.36, a current ratio of 10.35 and a debt-to-equity ratio of 0.65. The stock has a market cap of $401.09 million, a price-to-earnings ratio of -4.06 and a beta of 0.56. Celcuity has a 12-month low of $7.58 and a 12-month high of $19.77.

Celcuity (NASDAQ:CELC) last released its earnings results on Wednesday, May 14th. The company reported ($0.86) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.09. As a group, research analysts anticipate that Celcuity will post -2.62 earnings per share 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.