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

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

Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus began coverage on shares of Celcuity in a research note on Thursday, February 22nd. They issued a “buy” rating and a $40.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $27.00 target price on shares of Celcuity in a research report on Thursday.

Celcuity Trading Up 3.7 %

NASDAQ:CELC opened at $18.16 on Thursday. Celcuity has a one year low of $8.39 and a one year high of $18.95. The company has a debt-to-equity ratio of 0.39, a quick ratio of 11.15 and a current ratio of 11.15. The firm has a market cap of $439.47 million, a P/E ratio of -6.65 and a beta of 0.74. The firm has a 50-day simple moving average of $16.20 and a 200-day simple moving average of $13.51.

Institutional Investors Weigh In On Celcuity

A number of institutional investors have recently made changes to their positions in the stock. Morgan Stanley increased its position in shares of Celcuity by 23.5% during the third quarter. Morgan Stanley now owns 1,967,776 shares of the company’s stock valued at $17,985,000 after acquiring an additional 374,196 shares during the last quarter. Commodore Capital LP grew its holdings in shares of Celcuity by 3.6% in the fourth quarter. Commodore Capital LP now owns 1,754,704 shares of the company’s stock valued at $25,566,000 after purchasing an additional 60,563 shares in the last quarter. Perceptive Advisors LLC purchased a new position in Celcuity in the fourth quarter worth approximately $21,583,000. Soleus Capital Management L.P. lifted its stake in Celcuity by 172.6% in the fourth quarter. Soleus Capital Management L.P. now owns 1,210,228 shares of the company’s stock worth $16,955,000 after acquiring an additional 766,316 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in Celcuity by 599.7% in the second quarter. BlackRock Inc. now owns 912,972 shares of the company’s stock worth $10,024,000 after acquiring an additional 782,486 shares during the last quarter. 63.33% of the stock is currently owned by institutional investors and hedge funds.

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.