In a report released today, Difei Yang from Mizuho Securities maintained a Buy rating on Concert Pharma (CNCE), with a price target of $26. The company’s shares closed yesterday at $14.24.
Yang wrote:
“We obtained the transcript from the IPR hearing related to Concert’s patent ‘149. The hearing took place on January 25, 2019. Arguments by both sides; Incyte ( INCY, not-rated) and Concert appear highly technical and situational. Information presented in the transcript does not change our opinion that the final decision by the IPR judges expected on April 9, 2019 is likely a 50/50 event for Concert (50% chance of positive or negative outcome).”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 16.4% and a 46.8% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Xeris Pharmaceuticals Inc, and Alder Biopharmaceuticals.
Concert Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $26.
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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 14 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.
