Needham raised the firm’s price target on Celcuity (CELC) to $74 from $29 and keeps a Buy rating on the shares. Positive topline results from the PIK3CA wild-type cohort of the pivotal VIKTORIA-1 study significantly increases likelihood of FDA approval for gedatolisib, the analyst tells investors in a research note. Additionally, the firm believes gedatolisib has the potential to be “practice changing” for metastatic breast cancer.
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