CoLucid Pharmaceuticals (CLCD) PT Raised to $30 at Stifel
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Stifel analyst Annabel Samimy reiterated a Buy rating and bumped her price target on CoLucid Pharmaceuticals (NASDAQ: CLCD) to $30.00 (from $27.00) after the company reported additional data from its Phase 3 SAMURAI trial of lasmiditan in acute migraine. In addition to meeting all of its primary endpoints, lasmiditan demonstrated high statistical significance on most of its secondary endpoints, including: 1) headache relief at 2 hours, 2) headache freedom two hours after dosing when used as a second dose for rescue or recurrence, 3) the efficacy of lasmiditan on the Patient Global Impression of Change (PGIC), and 4) efficacy of lasmiditan based on migraine disability at 2 hours. Lasmiditan also achieved statistical significance on freedom from Most Bothersome Symptom (MBS) with the majority of patients choosing photophobia as MBS at baseline. On safety, the full data confirmed lasmiditan did not result in an increase in AEs or cardiovascular risk on the second dose.
Samimy commented, "Overall, we believe these data confirm the strong profile of lasmiditan on both efficacy and safety, and see the drug appropriate for a broad migraine patient population despite its specific utility in CV patients. Reiterate Buy, bumping up TP to $30."
Shares of CoLucid Pharmaceuticals closed at $28.13 yesterday.
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