CoLucid Pharmaceuticals (CLCD): Catalysts Could Lead To A Period Of Transformative Progress - Piper Jaffray
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Piper Jaffray analyst, Charles Duncan, reiterated his Overweight rating on shares of CoLucid Pharmaceuticals (NASDAQ: CLCD) ahead of several catalysts in September.
Heading into the first Phase III data for CoLucid’s lasmiditan , the analyst has reviewed the relevant data from Phase IIb and aspects of Phase III design to inform expectations from SAMURAI. Next week’s top-line results could be limited, with mostly qualitative information on the primary endpoint and safety/tolerability. However, the analyst anticipates a full presentation of results on 9/17/16 at EHMTIC, which he will be attending.
Given the diligence on the Phase II data and Phase III design, as well as conduct, he expects SAMURAI results on freedom from pain and most bothersome symptom to demonstrate clinically meaningful benefits that could differentiate lasmiditan's efficacy/ safety profile, especially in patients with known or suspected CV risk. The analyst wanted to reiterate his rating In advance of the first Phase III results from this new mechanism in acute migraine, which he believes could usher in a period of transformative progress for CoLucid.
No change to the price target of $21.
Shares of CoLucid Pharmaceuticals closed at $10.27 yesterday.
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