Investing.com – Citizens raised its price target on Celcuity Inc (NASDAQ:CELC) shares to $160 from $150 on Monday while maintaining a Market Outperform rating. The stock currently trades at $146.60, reflecting a remarkable 1,053% gain over the past year, though InvestingPro data indicates the shares may be overvalued relative to its Fair Value estimate.
The firm increased its price target following positive top-line results from Celcuity’s second Phase 3 trial for gedatolisib in second-line ER+/HER2- advanced breast cancer. The trial showed benefit for patients both with and without PI3K mutations.
The study met its primary endpoint of progression-free survival with statistical significance compared to alpelisib plus fulvestrant, which historically showed approximately 7.3 months of progression-free survival. Full data remain under embargo and are scheduled for presentation at ASCO.
Citizens raised its probability of success for gedatolisib in PI3K-mutant advanced breast cancer to 85% from 57% based on the positive top-line data. The firm’s price target is derived using a discounted cash flow model.
The analyst noted uncertainty remains about whether gedatolisib met market expectations of approximately 11 to 12 months median progression-free survival, pending the full data release. For deeper insights into CELC’s valuation and growth prospects, investors can access the comprehensive Pro Research Report, available for this and 1,400+ other US equities on InvestingPro.
In other recent news, Celcuity Inc. announced positive results from its Phase 3 VIKTORIA-1 clinical trial for gedatolisib, targeting PIK3CA mutations in advanced breast cancer patients. The trial demonstrated a statistically significant improvement in progression-free survival when gedatolisib was combined with fulvestrant and palbociclib, compared to other treatments. Following these results, several firms have adjusted their outlooks on Celcuity. Needham raised its price target for Celcuity to $157, citing the superior performance of gedatolisib combinations. Guggenheim also increased its price target to $165, highlighting the 100% probability of success for the PIK3CAm indication following the trial’s success. Stifel adjusted its price target to $150, noting the meaningful improvement in progression-free survival. Additionally, Citizens initiated coverage of Celcuity with a Market Outperform rating and set a price target of $150. These developments underscore the growing confidence among analysts in Celcuity’s recent trial results.
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