Analyst Gil Blum from Needham reiterated a Buy rating on Celcuity and keeping the price target at $70.00.
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Gil Blum has given his Buy rating due to a combination of factors surrounding the upcoming readout from the PIK3CA mutant cohort of the VIKTORIA-1 study. The study evaluates gedatolisib in HR+/HER2- metastatic breast cancer, and the anticipation is high following promising results from the wild-type cohort earlier this year. This readout is seen as a pivotal moment for Celcuity, potentially paving the way for a pharmaceutical acquisition by providing a comprehensive dataset.
Blum assigns a 55% probability to the study meeting its primary endpoint, which would demonstrate superiority over existing treatments and could result in a 10% increase in stock value. Additionally, there is a 25% chance that the results will align with previous Phase I data, further supporting the stock’s potential. Despite a 20% likelihood of the study missing its target, the overall outlook remains optimistic, justifying the Buy rating and the $70 price target.
In another report released on September 25, Guggenheim also maintained a Buy rating on the stock with a $110.00 price target.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CELC in relation to earlier this year.