H.C. Wainwright Remains a Buy on Concert Pharma (CNCE)


In a report released today, Andrew Fein from H.C. Wainwright reiterated a Buy rating on Concert Pharma (NASDAQ: CNCE), with a price target of $26. The company’s shares closed yesterday at $17.52.

Fein wrote:

“Valuation and risks. Our price target of $26/share is comprised of $15.19 from CTP-543 in AA + $3.18 from AVP-786 in AD agitation + $8.09 in cash and is based on a discounted cash flow analysis (2018-2026) using a 12% discount rate and 1% growth rate, in line with the expected discount and growth parameters of a development-stage biotechnology company. Risks to our investment thesis and target price include: (1) failure in clinical studies; (2) failure to secure regulatory approval; and (3) smaller than anticipated commercial opportunity due to market size, competition, and pricing.”

According to TipRanks.com, Fein is a 4-star analyst with an average return of 4.7% and a 47.2% success rate. Fein covers the Healthcare sector, focusing on stocks such as Proteostasis Therapeutics Inc, ACADIA Pharmaceuticals Inc, and Strongbridge Biopharma Plc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Concert Pharma with a $26.50 average price target, representing a 51.3% upside. In a report released yesterday, Mizuho Securities also maintained a Buy rating on the stock with a $27 price target.

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Concert Pharma’s market cap is currently $409.8M and has a P/E ratio of 3.98. The company has a Price to Book ratio of 1.95.

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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.

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