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Investing.com - Jefferies raised its price target on Celcuity Inc (NASDAQ:CELC) to $79.00 from $54.00 on Friday, while maintaining a Buy rating on the stock. The company, currently valued at $2.11 billion, is trading near its 52-week high of $53.40.
The price target increase follows what Jefferies described as "unprecedented" progression-free survival data from a Phase III study in second-line PIK3CA wild-type HR+/HER2- advanced breast cancer.
Jefferies noted that while Celcuity stock has already surged substantially, gaining 277% following the data release, the firm believes additional upside potential remains.
The research firm highlighted upcoming catalysts, including data from the PIK3CA-mutant Phase III study expected in the fourth quarter of 2025 and potential approval in the wild-type indication likely in 2026, following an NDA filing planned for the fourth quarter of 2025.
Celcuity also plans to present results from the wild-type Phase III trial at an upcoming medical meeting, which Jefferies suggests could further de-risk the company’s outlook.
In other recent news, Celcuity reported a second-quarter loss of $1.04 per share, which did not meet analysts’ expectations of a $0.88 loss. This resulted in an 18.18% negative surprise for investors. Despite the earnings miss, the company announced positive trial data and extended patent exclusivity. These developments are crucial as they could impact Celcuity’s future performance and strategic positioning. The company’s recent financial performance highlights the challenges it faces in aligning with market expectations. Investors may find the extended patent exclusivity a positive sign, potentially offering Celcuity a competitive advantage. However, the earnings miss remains a significant point of concern.
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