Celcuity (NASDAQ:CELC) Stock Rated Overweight in New Coverage at Cantor Fitzgerald

Research analysts at Cantor Fitzgerald initiated coverage on shares of Celcuity (NASDAQ:CELC) in a research note issued on Thursday, Briefing.com reports. The brokerage set an “overweight” rating and a $140.00 price target on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 127.42% from the company’s previous close.

A number of other equities analysts also recently commented on CELC. Craig Hallum reaffirmed a “buy” rating and set a $178.00 price objective on shares of Celcuity in a report on Wednesday, July 15th. Wall Street Zen cut Celcuity from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Guggenheim lifted their target price on Celcuity from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $177.00 price objective on shares of Celcuity in a research note on Monday, August 17th. Finally, JPMorgan Chase & Co. started coverage on Celcuity in a research report on Thursday, September 17th. They issued an “overweight” rating and a $157.00 price target on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $152.57.

Celcuity Trading Up 2.6%

Shares of NASDAQ CELC opened at $61.56 on Thursday. The business has a 50 day simple moving average of $81.10 and a 200 day simple moving average of $98.61. Celcuity has a 52 week low of $53.54 and a 52 week high of $151.02. 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 (NASDAQ:CELC) last issued its quarterly earnings data 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 forecast that Celcuity will post -4.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Celcuity

A number of institutional investors have recently modified their holdings of CELC. IFP Advisors Inc raised its holdings in Celcuity by 42.6% during the 3rd quarter. IFP Advisors Inc now owns 995 shares of the company’s stock worth $79,000 after purchasing an additional 297 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings 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 during the period. Envestnet Asset Management Inc. raised its stake in Celcuity by 358.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 15,958 shares of the company’s stock worth $1,670,000 after buying an additional 12,476 shares during the period. Engineers Gate Manager LP acquired a new position in shares of Celcuity during the second quarter worth approximately $480,000. Finally, Nykredit A S bought a new position in shares of Celcuity in the 2nd quarter worth $119,000. Institutional investors own 63.33% of the company’s stock.

About Celcuity

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.