Analyst Gil Blum from Needham maintained a Buy rating on Celcuity and decreased the price target to $70.00 from $74.00.
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Gil Blum has given his Buy rating due to a combination of factors related to Celcuity’s recent developments and future potential. The company is on track to submit a New Drug Application for gedatolisib in PIK3CA wild-type metastatic breast cancer by the fourth quarter of 2025, following positive results from a pivotal study earlier in the year. This progress is seen as a significant milestone, and the anticipation of upcoming results for PIK3CA mutant cases is expected to further drive the company’s stock.
Additionally, Celcuity’s financial position appears robust, with a substantial cash reserve projected to sustain operations through 2027. Although the company plans to independently launch gedatolisib, which requires considerable investment, the overall outlook remains positive. These factors collectively contribute to the Buy rating, despite a slight adjustment in the target price to account for dilution.