HC Wainwright assumed coverage on shares of Celcuity (NASDAQ:CELC) in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $36.00 price target on the stock.
“Our price target is derived from a market value of the firm at $369M, which includes a discounted cash flow based asset value for CELx tests, with a 15% discount rate and 0.5% terminal growth rate. Probabilities of success assigned are 45% and 10% for breast cancer and colon cancer, respectively.”,” the firm’s analyst commented.
Separately, Craig Hallum increased their target price on Celcuity from $30.00 to $35.00 and gave the company a buy rating in a report on Wednesday, November 14th.
Celcuity (NASDAQ:CELC) last released its earnings results on Tuesday, November 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.03. Equities analysts predict that Celcuity will post -0.76 EPS for the current fiscal year.
In other Celcuity news, Director Richard Nigon bought 9,747 shares of Celcuity stock in a transaction dated Tuesday, September 11th. The stock was bought at an average price of $22.31 per share, for a total transaction of $217,455.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 43.50% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Celcuity by 125.5% during the second quarter. BlackRock Inc. now owns 286,807 shares of the company’s stock worth $7,119,000 after acquiring an additional 159,602 shares in the last quarter. Carlson Capital Management purchased a new stake in shares of Celcuity during the second quarter worth $295,000. Accredited Investors Inc. purchased a new stake in shares of Celcuity during the second quarter worth $354,000. SNS Financial Group LLC purchased a new stake in shares of Celcuity during the second quarter worth $328,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Celcuity during the second quarter worth $291,000. Institutional investors and hedge funds own 14.37% of the company’s stock.
Celcuity Company Profile
Celcuity Inc, a cellular analysis company, discovers cancer sub-types and commercializes diagnostic tests to enhance the response rates of cancer patients treated with targeted therapies in the United States. The company is developing CELx tests to diagnose two new sub-types of HER2-negative breast cancer.
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