BUZZ-Celcuity dips as H.C. Wainwright downgrades to 'neutral'

Reuters11-18
BUZZ-Celcuity dips as H.C. Wainwright downgrades to 'neutral' 

** H.C. Wainwright downgrades cancer diagnostics firm Celcuity CELC.O to "neutral" from "buy"; raises PT to $94 from $77

** Brokerage sees the pre-revenue company with a single asset, gedatolisib, and a $4.3 billion valuation as a stock priced for perfection with more downside risk than upside

** CELC's stock price has appreciated about 608% YTD

** H.C. Wainwright notes that the FDA has accepted an NDA for gedatolisib in wild-type PIK3CA breast cancer, but risks remain around potential delays, strong competition from large pharma, and weaker-than-expected pricing or adoption

** Shares of Celcuity CELC.O down about 2.96% to $89.94 in afternoon trading

** Eight of nine brokerages rate stock "buy" or higher, one "hold"; median PT is $96.50 — data compiled by LSEG

** Including session's moves, CELC stock has risen ~587.1% YTD

(Reporting by Anuj T in Bengaluru)

((anuj.t@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment