CoLucid Pharmaceuticals (CLCD) PT Raised to $40 at Stifel Following NDR
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Stifel analyst Annabel Samimy reiterated a Buy rating and lifted her price target on CoLucid Pharmaceuticals (NASDAQ: CLCD) to $40.00 (from $30.00) after taking the company on the road.
Samimy commented, "This week we took CLCD on the road where the recent data readouts were highlighted though focus now begins to shift to commercial positioning and strategy. Briefly, the SAMURAI readouts and early look into GLADIATOR have largely provided comfort with lasmiditan’s clearly differentiated profile in a market that has seen little change over the years (see Top-Line, EHMTIC Readouts). While SPARTAN remains ongoing and not expected to readout until mid-2017, CLCD has begun to engage in multiple commercial, reimbursement, and market discussions to position lasmiditan as a novel/unique product in a population underserved with current regimens. We believe CLCD and lasmiditan are in favorable positions with highly supportive data to significantly dent the migraine market and look to the coming year for further updates into its commercial/BusDev strategies. We reiterate our Buy rating and raise our TP to $40, though the next catalyst will come in mid-2017."
Shares of CoLucid Pharmaceuticals closed at $34.80 yesterday.
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