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Fly News Breaks for December 3, 2019
CNCE
Dec 3, 2019 | 08:42 EDT
SunTrust analyst Joon Lee raised his price target on Concert Pharmaceuticals to $25 and kept his Buy rating after its announcement of a Phase 2 study initiated of CTP-692 in schizophrenia as adjunctive treatment. The analyst notes that his recent "key opinion leader" call with Harvard Medical School director of Laboratory for Psychiatric and Molecular Neuroscience increased his conviction in the program, as he raises his probability of success for CTP-692 to 20% from 15% and his global peak revenue by 2037 to $1.6B form $1.1B.
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