Wolfe Research has commenced coverage of Celcuity (NASDAQ:CELC) with an outperform rating and a price target set at $110.00, according to a research note released on Tuesday. This rating reflects the brokerage’s positive outlook on the company’s potential growth in the biotechnology sector.
Several other analysts have also recently evaluated Celcuity. On September 22, Guggenheim initiated coverage with a “buy” rating. Stifel Nicolaus increased their price target from $68.00 to $115.00 while maintaining a “buy” rating in a report issued on November 13. In the same week, Craig Hallum raised their price objective from $96.00 to $108.00, also assigning a “buy” rating. Meanwhile, HC Wainwright reiterated their “neutral” rating, increasing their target price from $77.00 to $94.00. Conversely, Weiss Ratings issued a “sell (d-)” rating on October 8.
The consensus rating for Celcuity is currently classified as a “Moderate Buy,” with an average price target of $97.00, based on data from MarketBeat.
Recent Earnings and Institutional Trading Activity
Celcuity released its latest earnings results on November 12, reporting a loss of ($0.92) earnings per share, which surpassed analysts’ expectations of ($1.05) by $0.13. Analysts forecast that the company will report earnings of ($2.62) per share for the current fiscal year.
Institutional investors have shown varying levels of interest in Celcuity. During the third quarter, US Bancorp DE increased its holdings in the company by 25.4%, acquiring an additional 143 shares to reach a total of 706 shares valued at approximately $35,000. Rhumbline Advisers lifted its stake by 1.2% in the second quarter, holding 42,697 shares worth $570,000 after purchasing 503 shares.
Intech Investment Management LLC increased its position by 5.2%, owning 14,855 shares valued at $198,000 after acquiring an additional 734 shares. Similarly, BNP Paribas Financial Markets raised its stake significantly by 78.9%, bringing its total to 2,647 shares worth $35,000. Institutional investors currently own approximately 63.33% of Celcuity’s stock.
About Celcuity
Celcuity Inc is a clinical-stage biotechnology firm dedicated to developing targeted therapies for various solid tumors in the United States. The company utilizes its CELsignia diagnostic platform, which analyzes a patient’s living tumor cells to pinpoint the specific abnormal cellular processes driving their cancer. This innovative approach aims to tailor targeted therapies that enhance patient outcomes.
As market dynamics continue to evolve, Celcuity’s performance, bolstered by positive analyst ratings and institutional interest, positions it as a noteworthy entity in the biotechnology landscape. Investors are encouraged to monitor developments closely as the company progresses in its therapeutic advancements.
