Zacks Investment Research Upgrades Celcuity (NASDAQ:CELC) to Hold

Zacks Investment Research upgraded shares of Celcuity (NASDAQ:CELC) from a sell rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “Celcuity Inc. is a cellular analysis company. It engaged in discovering new cancer sub-types and commercializing diagnostic tests designed to significantly improve the clinical outcomes of cancer patients treated with targeted therapies. The company’s proprietary CELx diagnostic platform uses a patient’s living tumor cells to identify the specific abnormal cellular activity driving a patient’s cancer and the targeted therapy. Celcuity Inc. is based in Minneapolis, United States. “

Separately, began coverage on Celcuity in a research report on Friday, October 8th. They set a buy rating and a $50.00 price target for the company. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Celcuity currently has an average rating of Buy and an average target price of $39.00.

NASDAQ CELC opened at $11.53 on Tuesday. Celcuity has a 1-year low of $10.50 and a 1-year high of $33.01. The company has a debt-to-equity ratio of 0.19, a current ratio of 32.30 and a quick ratio of 32.30. The stock has a 50-day moving average of $14.26 and a 200-day moving average of $18.27.

Celcuity (NASDAQ:CELC) last released its earnings results on Sunday, November 7th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.10). During the same quarter in the prior year, the company earned ($0.24) earnings per share. As a group, equities research analysts forecast that Celcuity will post -1.77 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CELC. Commodore Capital LP bought a new position in shares of Celcuity in the 2nd quarter worth approximately $20,903,000. BlackRock Inc. raised its position in shares of Celcuity by 538.5% in the 2nd quarter. BlackRock Inc. now owns 378,277 shares of the company’s stock worth $9,079,000 after acquiring an additional 319,034 shares in the last quarter. Invesco Ltd. bought a new position in shares of Celcuity in the 2nd quarter worth approximately $6,130,000. Jefferies Group LLC bought a new position in shares of Celcuity in the 2nd quarter worth approximately $4,661,000. Finally, Altium Capital Management LP bought a new position in shares of Celcuity in the 2nd quarter worth approximately $3,480,000. 38.16% of the stock is owned by institutional investors and hedge funds.

About Celcuity

Celcuity, Inc is cellular analysis company. The company discovers new cancer sub-types and commercializing diagnostic tests designed to improve the clinical outcomes of cancer patients treated with targeted therapies. Its proprietary CELx diagnostic platform is the commercially ready technology that uses a patient’s living tumor cells to identify the specific abnormal cellular process driving a patient’s cancer and the targeted therapy that treats it.

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