In a report released today, Gil Blum from Needham maintained a Buy rating on Celcuity (CELC – Research Report), with a price target of $29.00.
Gil Blum’s rating is based on several key factors discussed during the fireside chat with Celcuity’s CEO, Brian Sullivan, at the Needham Healthcare Conference. One of the primary reasons for the Buy rating is the company’s strong position with its drug candidate, gedatolisib, which has received breakthrough designation from the FDA. This designation typically indicates a promising treatment that may expedite the development and review process, potentially leading to a faster time to market.
Additionally, the management’s confidence in the company’s operations, despite external factors such as tariffs, further supports the positive outlook. The lack of expected impact from tariffs and the smooth interactions with the FDA suggest a stable operational environment for Celcuity. These factors combined contribute to Gil Blum’s optimistic view and the Buy rating for Celcuity’s stock.
In another report released on April 1, LifeSci Capital also maintained a Buy rating on the stock with a $27.00 price target.