Celcuity (NASDAQ:CELC) Stock Gets Price Target Reduction from Guggenheim

Celcuity (NASDAQ:CELC) had its price objective decreased by equities researchers at Guggenheim from $171.00 to $169.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim‘s price target suggests a potential upside of 161.08% from the company’s current price.

CELC has been the subject of a number of other research reports. Cantor Fitzgerald assumed coverage on shares of Celcuity in a report on Thursday, October 22nd. They issued an “overweight” rating and a $140.00 target price for the company. Citigroup reaffirmed a “market outperform” rating on shares of Celcuity in a report on Monday, October 19th. TD Cowen reiterated a “buy” rating and set a $145.00 price objective on shares of Celcuity in a research report on Wednesday, October 21st. Craig Hallum reiterated a “buy” rating and set a $178.00 price objective on shares of Celcuity in a research report on Wednesday, July 15th. Finally, Wall Street Zen downgraded shares of Celcuity from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $152.14.

Celcuity Price Performance

Shares of CELC stock traded up $0.69 on Friday, hitting $64.73. 260,266 shares of the company’s stock were exchanged, compared to its average volume of 1,145,478. The company has a 50 day moving average of $75.64 and a 200 day moving average of $99.57. The stock has a market cap of $3.17 billion, a P/E ratio of -15.06 and a beta of 0.16. The company has a debt-to-equity ratio of 6.04, a current ratio of 8.93 and a quick ratio of 8.93. Celcuity has a 12 month low of $53.54 and a 12 month high of $151.02.

Celcuity (NASDAQ:CELC) last released its earnings results on Thursday, November 5th. The company reported ($1.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.51) by $0.30. On average, equities research analysts predict that Celcuity will post -4.98 EPS for the current year.

Institutional Investors Weigh In On Celcuity

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE acquired a new position in Celcuity in the 2nd quarter worth about $153,928,000. Assenagon Asset Management S.A. boosted its stake in shares of Celcuity by 685.9% during the third quarter. Assenagon Asset Management S.A. now owns 1,478,607 shares of the company’s stock valued at $117,579,000 after purchasing an additional 1,290,466 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Celcuity by 111.4% during the second quarter. Wellington Management Group LLP now owns 906,595 shares of the company’s stock valued at $94,848,000 after purchasing an additional 477,643 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Celcuity by 0.6% during the first quarter. Jennison Associates LLC now owns 231,140 shares of the company’s stock valued at $26,382,000 after purchasing an additional 1,436 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in shares of Celcuity by 10,659.7% during the third quarter. Pictet Asset Management Holding SA now owns 291,049 shares of the company’s stock valued at $23,144,000 after purchasing an additional 288,344 shares in the last quarter. Institutional investors own 63.33% of the company’s stock.

Celcuity Company Profile

Celcuity, Inc is a clinical-stage biotechnology company developing functional diagnostic tests designed to help identify cancer treatments that may be most effective for individual patients. Its technology analyzes living tumor cells taken from patients to measure how signaling pathways respond to different therapies, with the goal of supporting more personalized treatment decisions.

The company’s CELsignia platform is designed to assess the activity of cancer-related signaling pathways in patient-derived cells.