Celcuity (NASDAQ:CELC) Coverage Initiated by Analysts at JPMorgan Chase & Co.

Analysts at JPMorgan Chase & Co. started coverage on shares of Celcuity (NASDAQ:CELC) in a research note issued to investors on Thursday, Benzinga reports. The firm set an “overweight” rating and a $157.00 price target on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 90.12% from the stock’s previous close.

CELC has been the subject of a number of other reports. Wells Fargo & Company decreased their target price on Celcuity from $183.00 to $166.00 and set an “overweight” rating for the company in a research report on Wednesday, June 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celcuity in a research report on Tuesday, September 1st. Citizens Jmp reaffirmed a “market outperform” rating and issued a $177.00 price target on shares of Celcuity in a report on Monday, August 17th. Macquarie Infrastructure set a $160.00 price target on Celcuity in a research report on Thursday, May 28th. Finally, HC Wainwright reiterated a “buy” rating and set a $155.00 price objective on shares of Celcuity in a report on Friday, August 14th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $154.75.

Celcuity Price Performance

CELC opened at $82.58 on Thursday. The business has a fifty day moving average of $91.30 and a 200 day moving average of $105.67. Celcuity has a 52-week low of $44.42 and a 52-week high of $151.02. The company has a quick ratio of 8.93, a current ratio of 8.93 and a debt-to-equity ratio of 6.04. The stock has a market cap of $4.04 billion, a P/E ratio of -19.20 and a beta of 0.19.

Celcuity (NASDAQ:CELC) last released its earnings results on Thursday, August 13th. The company reported ($1.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.28). As a group, sell-side analysts anticipate that Celcuity will post -4.75 EPS for the current year.

Institutional Investors Weigh In On Celcuity

Several institutional investors and hedge funds have recently made changes to their positions in CELC. Engineers Gate Manager LP acquired a new position in shares of Celcuity in the 2nd quarter valued at $480,000. IFP Advisors Inc acquired a new stake in Celcuity during the 2nd quarter worth about $73,000. Nykredit A S acquired a new stake in Celcuity during the 2nd quarter worth about $119,000. Corient Private Wealth LP purchased a new stake in Celcuity during the 2nd quarter valued at about $1,258,000. Finally, Headlands Technologies LLC purchased a new stake in Celcuity during the 2nd quarter valued at about $980,000. 63.33% of the stock is currently owned by institutional investors and hedge funds.

Celcuity Company Profile

Celcuity, Inc is a biotechnology company focused on advancing personalized medicine through functional diagnostics. Its technology is designed to analyze living tumor cells obtained from patient tissue and identify abnormal signaling activity that may influence how a cancer responds to specific therapies.

The company’s primary platform, CELsignia, uses proprietary assays to measure the activity of cellular signaling pathways in a patient’s tumor cells. Celcuity develops these tests for use in oncology drug development, patient selection, and potentially as companion diagnostics to help identify patients who are most likely to benefit from targeted treatments.

Celcuity works with biopharmaceutical companies and research organizations to evaluate drug-response biomarkers and support precision oncology programs.