Needham & Company LLC Increases Celcuity (NASDAQ:CELC) Price Target to $24.00

Celcuity (NASDAQ:CELC) had its price target raised by analysts at Needham & Company LLC from $23.00 to $24.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 32.16% from the stock’s current price.

CELC has been the topic of several other research reports. Stifel Nicolaus started coverage on shares of Celcuity in a research report on Thursday, February 22nd. They set a “buy” rating and a $40.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price target on shares of Celcuity in a report on Thursday.

Celcuity Price Performance

Celcuity stock opened at $18.16 on Thursday. Celcuity has a 52 week low of $8.39 and a 52 week high of $18.95. The company’s 50 day moving average price is $16.20 and its two-hundred day moving average price is $13.51. The company has a quick ratio of 11.15, a current ratio of 11.15 and a debt-to-equity ratio of 0.39. The stock has a market cap of $439.47 million, a P/E ratio of -6.65 and a beta of 0.74.

Institutional Investors Weigh In On Celcuity

A number of hedge funds have recently modified their holdings of CELC. Vanguard Group Inc. raised its holdings in Celcuity by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 820,776 shares of the company’s stock valued at $11,959,000 after acquiring an additional 29,181 shares during the period. Perceptive Advisors LLC bought a new stake in Celcuity during the 4th quarter valued at $21,583,000. Barclays PLC raised its holdings in Celcuity by 652.8% during the 4th quarter. Barclays PLC now owns 24,021 shares of the company’s stock valued at $350,000 after acquiring an additional 20,830 shares during the period. Nuveen Asset Management LLC raised its holdings in Celcuity by 36.1% during the 4th quarter. Nuveen Asset Management LLC now owns 32,441 shares of the company’s stock valued at $473,000 after acquiring an additional 8,603 shares during the period. Finally, Royal Bank of Canada raised its holdings in Celcuity by 12.0% during the 4th quarter. Royal Bank of Canada now owns 18,909 shares of the company’s stock valued at $276,000 after acquiring an additional 2,020 shares during the period. Institutional investors own 63.33% of the company’s stock.

About Celcuity

Celcuity Inc, a clinical stage biotechnology company, focuses on the development of molecularly targeted therapies for cancer patients 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.