In a report released today, Andrew Fein from H.C. Wainwright maintained a Buy rating on Concert Pharma (CNCE), with a price target of $29. The company’s shares closed yesterday at $10.35, close to its 52-week low of $9.21.
Fein wrote:
“Our new price target of $29/share includes CTP-692 for the treatment of 1 safety data. It is comprised of $10.40 from CTP-543 in AA + $3.82 from AVP-786 in AD + $8.36 in Schizophrenia + $6.45 in cash and is based on a discounted cash flow analysis (2019-2026) using a 12% discount rate and 1% growth rate, in line with the expected discount and growth parameters of a development stage biotechnology company.”
According to TipRanks.com, Fein is a 2-star analyst with an average return of 0.2% and a 39.6% success rate. Fein covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, Proteostasis Therapeutics Inc, and ACADIA Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Concert Pharma with a $19.33 average price target, implying an 86.8% upside from current levels. In a report released today, Janney Montgomery also upgraded the stock to Buy with a $16 price target.
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Based on Concert Pharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $21.83 million. In comparison, last year the company had a GAAP net loss of $4.46 million.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is neutral on the stock. Most recently, in April 2019, Roger Tung, the CEO of CNCE bought 14,601 shares for a total of $55,338.
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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.
