Mizuho Securities analyst Difei Yang assigned a Buy rating to Concert Pharma (CNCE) today and set a price target of $26. The company’s shares opened today at $13.96.
Yang said:
“We recently held investor meetings on the west coast with Concert management. We believe CNCE shares are undervalued ahead of important catalysts in 2019 including a PTAB decision related to the CTP-543 patent litigation, expected by 04/09/19; top-line data from the CTP-543 12mg cohort in 3Q19; Phase 3 data in Alzheimer’s Agitation (AVP-786) possibly in 2Q19; and Phase 1 data from CTP-692 in schizophrenia in 1H19. We see strong potential in CTP-543, regardless of the IP litigation outcome, and we believe the asset has potential to be first-to-market for the treatment of alopecia areata.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 16.0% and a 45.6% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Xeris Pharmaceuticals Inc, and Alder Biopharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Concert Pharma with a $23.67 average price target.
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The company has a one-year high of $26.15 and a one-year low of $10.80. Currently, Concert Pharma has an average volume of 195K.
Based on the recent corporate insider activity of 13 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.
