Concert Pharma (CNCE): 3 Reasons To Be Bullish - Stifel
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Stifel analyst, Adam Walsh, reiterated his Buy rating on shares of Concert Pharmaceuticals (NASDAQ: CNCE). KOL feedback, management meetings, and a journal publication reinforce the analyst's bullishness on CTP-543.
CTP-543 is still in P1 so shares do not yet reflect what could be a lower-risk, game-changing opportunity for the company. However, with P1 results expected to read out in 4Q16, a short, six-month P2 trial expected to launch in 1H17, and an upcoming FDA Patient-Focused Drug Development Meeting on AA, the analyst expects the Street to share his bullish outlook on the drug.
No change to the price target of $23.
Shares of Concert Pharmaceuticals closed at $10.15 yesterday.
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