Fly News Breaks for October 2, 2019
Oct 2, 2019 | 06:41 EDT
Concert Pharmaceuticals shares have continued to sell off following last week's negative AVP-786 data and currently trade near the company's cash value of $5, Mizuho analyst Difei Yang tells investors in a research note. The analyst, however, continues to see "significant value" in Concert's clinical pipeline. CTP-543 remains a key value driver, and earlier-stage asset CTP-692, for the adjunctive treatment of schizophrenia, is set to enter Phase 2 in Q4 and offers additional potential upside, says Yang. The analyst reiterates a Buy rating on Concert Pharmaceuticals.
News For CNCE From the Last 2 Days
Feb 27, 2020 | 14:51 EST
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.