Celcuity price target raised to $95 from $70 at Needham

Needham raised the firm’s price target on Celcuity (CELC) (CECL) to $95 from $70 and keeps a Buy rating on the shares. The firm considers updated results from the PIK3CA wild-type cohort of the pivotal VIKTORIA-1 study as further de-risking for geda and potentially practice changing. Furthermore, Needham thinks a lack of PFS benefit observed for Roche’s (RHHBY) oral SERD giredestrant in ESR1 WT patients removes an overhang on Celcuity.