Roth Capital Reiterates Buy On Concert Pharma Shares, $28 PT
In a research report issued yesterday, Roth Capital analyst Joseph Pantginis reiterated a Buy rating on Concert Pharmaceuticals (NASDAQ:CNCE) with a price target of $28.00.
Pantginis wrote, “CNCE received a $2 million milestone payment from Avanir (AVNR-NC), which initiated a Phase II study of AVP-786 in patients with major depressive disorder (MDD). This is the second development milestone received under the licensing agreement for AVP-786. This 10-week randomized, double-blind, placebocontrolled study is designed to reduce placebo effects and give relatively quick response as to the drug’s efficacy.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a total average return of -6.2% and a 44.3% success rate. Joseph has a 6.3% average return when recommending CNCE, and is ranked #3205 out of 3249 analysts.