CoLucid Pharmaceuticals Inc. (CLCD) PT Set at $49.00 by Piper Jaffray Cos.
CoLucid Pharmaceuticals Inc. (NASDAQ:CLCD) has been assigned a $49.00 price target by analysts at Piper Jaffray Cos. in a research report issued to clients and investors on Friday. The firm currently has a an “overweight” rating on the biopharmaceutical company’s stock. Piper Jaffray Cos.’s price objective indicates a potential upside of 35.14% from the stock’s current price.
CLCD has been the topic of a number of other research reports. Stifel Nicolaus raised their price objective on CoLucid Pharmaceuticals from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, September 19th. Zacks Investment Research lowered CoLucid Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, September 9th. Finally, Ladenburg Thalmann raised their price objective on CoLucid Pharmaceuticals from $23.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, September 6th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $33.05.
CoLucid Pharmaceuticals (NASDAQ:CLCD) opened at 36.26 on Friday. The stock’s 50 day moving average price is $20.43 and its 200 day moving average price is $10.63. CoLucid Pharmaceuticals has a 52 week low of $3.60 and a 52 week high of $39.27. The firm’s market cap is $556.01 million.
CoLucid Pharmaceuticals (NASDAQ:CLCD) last posted its quarterly earnings data on Wednesday, August 10th. The biopharmaceutical company reported ($1.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.84) by $0.22. On average, equities research analysts predict that CoLucid Pharmaceuticals will post ($3.91) EPS for the current year.
In other news, major shareholder A/S Novo acquired 100,000 shares of CoLucid Pharmaceuticals stock in a transaction that occurred on Friday, September 9th. The shares were acquired at an average price of $20.00 per share, for a total transaction of $2,000,000.00. Following the transaction, the insider now directly owns 3,156,563 shares of the company’s stock, valued at approximately $63,131,260. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Domain Partners Vi, L.P. sold 153,028 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $8.45, for a total value of $1,293,086.60. The disclosure for this sale can be found here. 13.70% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Societe Generale purchased a new stake in shares of CoLucid Pharmaceuticals during the second quarter worth $464,000. FMR LLC purchased a new stake in shares of CoLucid Pharmaceuticals during the second quarter worth $554,000. Finally, Vanguard Group Inc. raised its stake in shares of CoLucid Pharmaceuticals by 1.2% in the second quarter. Vanguard Group Inc. now owns 76,242 shares of the biopharmaceutical company’s stock worth $623,000 after buying an additional 900 shares in the last quarter. Institutional investors and hedge funds own 30.47% of the company’s stock.
About CoLucid Pharmaceuticals
CoLucid Pharmaceuticals, Inc is a Phase III clinical-stage biopharmaceutical company. The Company is engaged in developing a small molecule for the acute treatment of migraine headaches. Its product candidates address the needs of migraine patients, including those with cardiovascular risk factors or stable cardiovascular disease and those dissatisfied with existing therapies.
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