Concert Pharma Receives a Buy from Mizuho Securities


Mizuho Securities analyst Difei Yang maintained a Buy rating on Concert Pharma (NASDAQ: CNCE) today and set a price target of $27. The company’s shares closed yesterday at $19.68.

Yang noted:

“We do not see earnings as the most meaningful indicator of value for a development-stage biotech. More importantly, Concert will report top-line data from the phase 2a trial of CTP-543 in Alopecia Areata (4 mg and 8 mg dose) in 4Q18. We expect this to be an important catalyst for the shares. In addition, the recently disclosed new indication – CTP-692 is expected to move into clinical development by year- end 2018.”

According to TipRanks.com, Yang is a 5-star analyst with an average return of 20.1% and a 50.1% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Alder Biopharmaceuticals, and Audentes Therapeutics.

Concert Pharma has an analyst consensus of Strong Buy, with a price target consensus of $26.33.

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Based on Concert Pharma’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $10.48 million and GAAP net loss of $4.46 million. In comparison, last year the company earned revenue of $20K and had a GAAP net loss of $13.33 million.

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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. The company was founded by Richard H.

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