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Fly News Breaks for February 27, 2020
Feb 27, 2020 | 14:51 EDT
Stifel analyst Adam Walsh raised the firm's price target on Concert Pharmaceuticals (CNCE) to $11 from $8 and keeps a Hold rating on the shares following the company's fourth quarter earnings report. Walsh said that since his downgrade to Hold last fall, Concert has continued to make "solid" pipeline progress with CTP-543 for alopecia areata and CTP-692 as adjunctive treatment for schizophrenia. The analyst noted that he "certainly" does not expect Incyte (INCY) to go away at this point given Jakafi's importance to the company and thinks there is probably some future headline risk if/when Incyte announces its next legal move.
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