CoLucid Pharmaceuticals (CLCD): Positive Phase III De-risks Strategy - Piper Jaffray

September 15, 2016 6:25 AM EDT
Get Alerts CLCD Hot Sheet
Price: $46.23 -0.04%

Rating Summary:
    3 Buy, 3 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 22 | Down: 17 | New: 13
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Piper Jaffray analyst, Charles Duncan, reiterated his Overweight rating on shares of CoLucid Pharmaceuticals (NASDAQ: CLCD) following positive Phase III results from lasmiditan which de-risk additional development in acute migraine. CoLucid also recently completed a ~$70M equity raise, extending the cash runway to 1H18. The analyst now believes the company is well-funded through second Phase III results during 3Q17, as well as significant progress on the GLADIATOR OLE.

The next catalyst for the company will be EHMTIC 2016. This should provide more detail on the positive top-line results from SAMURAI, in which both doses of lasmi’ achieved the primary endpoint of freedom from headache pain and the secondary endpoint of freedom from the most bothersome symptom, while also demonstrating clean CV safety. No change to the price target of $36.

For an analyst ratings summary and ratings history on CoLucid Pharmaceuticals click here. For more ratings news on CoLucid Pharmaceuticals click here.

Shares of CoLucid Pharmaceuticals closed at $23.28 yesterday.

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Piper Jaffray, Charles Duncan

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