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Fly News Breaks for September 30, 2019
Sep 30, 2019 | 08:40 EDT
SunTrust analyst Joon Lee lowered his price target on Concert Pharmaceuticals to $20 after the company's partner Avanir disclosed negative top-line results from the second Phase 3 study of AVP-786 for the treatment of moderate-to-severe Alzheimer's agitation. The analyst is removing the Alzheimer's agitation potential from his valuation model but maintains his Buy rating on the stock, citing the company's "best-in-class" alopecia areata data for CTP-543 and the expected start of phase 2 trial of its CTP-692 in Q4 of this year.
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