Mizuho Securities analyst Difei Yang maintained a Buy rating on Concert Pharma (CNCE) today and set a price target of $26. The company’s shares closed on Friday at $13.93.
Yang wrote:
“We expect this to be an important catalyst for the shares with ~$7/share upside and ~$2/share downside depending on the outcome. However, even in a negative scenario, we see possible avenues for Concert to maneuver the IP landscape and gain freedom to operate. Management has indicated they will move forward with the program, regardless of the IPR outcome. With poor recent share performance and our positive view on CTP-543, we believe the shares are undervalued.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 13.2% and a 42.0% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Xeris Pharmaceuticals Inc, and Alder Biopharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Concert Pharma with a $24.25 average price target.
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Based on Concert Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $17.39 million. In comparison, last year the company had a GAAP net loss of $6.08 million.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CNCE in relation to earlier this year.
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Concert Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company, which discovers and develops novel small molecule drugs through the use of deuterium technology. Its product candidates target a range of diseases including autoimmune disorders, inflammation, and central nervous system disorders.
