Analyst Swayampakula Ramakanth of H.C. Wainwright maintained a Buy rating on Celcuity (CELC – Research Report), with a price target of $27.00.
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Swayampakula Ramakanth’s rating is based on the promising developments in Celcuity’s clinical trials and strategic plans. The imminent data readout from the VIKTORIA-1 study, which evaluates gedatolisib in combination with other treatments for advanced breast cancer, is a significant factor. The potential for a successful outcome, defined as a notable improvement in progression-free survival, could lead to regulatory advancements such as a Real-Time Oncology Review request with the FDA.
Additionally, the company’s plans to initiate the VIKTORIA-2 study and report data from a prostate cancer study further strengthen the growth prospects. Despite reporting no revenues and a net loss, Celcuity’s substantial cash reserves are expected to support its operations moving forward. These factors collectively contribute to the Buy rating, as they indicate a strong potential for future success and value creation.
In another report released today, Needham also maintained a Buy rating on the stock with a $29.00 price target.