In a report released today, Difei Yang from Mizuho Securities maintained a Buy rating on Concert Pharma (NASDAQ: CNCE), with a price target of $27. The company’s shares closed yesterday at $17.88.
Yang said:
“We also expect to see a number of competitors report their own phase 2 data in AA around the same time and/or slightly after. We anticipate this will be an important catalyst for Concert shares and we remain confident in the potential of CTP-543. We highlight competitor programs below along with available data in alopecia areata. In our view, Concert is well positioned relative to most competitors from a timeline perspective. We also see JAK 1/2 as a strong target based on the available data.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 22.9% and a 54.9% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Alder Biopharmaceuticals, and Audentes Therapeutics.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Concert Pharma with a $26.50 average price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $30.71 and a one-year low of $12.87. Currently, Concert Pharma has an average volume of 178.8K.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
