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 (NASDAQ: CNCE), with a price target of $27. The company’s shares closed on Friday at $13.52, close to its 52-week low of $12.33.

Yang commented:

“We believe the competitor’s results provide positive read throughs to CTP-543, for which data is expected during 4Q18.”

According to TipRanks.com, Yang is a top 100 analyst with an average return of 25.4% and a 55.2% 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 Moderate Buy analyst consensus rating for Concert Pharma with a $26.50 average price target, implying a 96.0% upside from current levels. In a report issued on September 12, H.C. Wainwright also maintained a Buy rating on the stock with a $26 price target.

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Based on Concert Pharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $13.33 million. In comparison, last year the company had a GAAP net loss of $13.03 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.

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