Mizuho Securities Thinks Concert Pharma’s Stock is Going to Recover


In a report released today, Difei Yang from Mizuho Securities maintained a Buy rating on Concert Pharma (CNCE), with a price target of $26. The company’s shares closed yesterday at $13.67, close to its 52-week low of $10.80.

Yang said:

“We see Concert’s CTP-543 as best-in-class for the treatment of moderate/severe AA. Recent Phase 2a data from CTP-543 (8mg cohort) was very positive and upcoming data from the 12mg cohort expected in 3Q19 could be better. Aclaris will also report data (including SALT scores) from its topical and oral JAK inhibitors in AA in 2Q19, and 3Q19.”

According to TipRanks.com, Yang is a 5-star analyst with an average return of 13.8% and a 41.2% 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 Strong Buy analyst consensus rating for Concert Pharma with a $24.25 average price target.

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The company has a one-year high of $30.71 and a one-year low of $10.80. Currently, Concert Pharma has an average volume of 224K.

Based on the recent corporate insider activity of 21 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.

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.

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