CoLucid Pharmaceuticals Inc. (NASDAQ:CLCD) has been given a $49.00 target price by research analysts at Piper Jaffray Cos. in a report released on Friday. The firm presently has a an “overweight” rating on the biopharmaceutical company’s stock. Piper Jaffray Cos.’s price objective suggests 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 increased their price objective on CoLucid Pharmaceuticals from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, September 19th. Zacks Investment Research downgraded CoLucid Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, September 9th. Finally, Ladenburg Thalmann increased their price objective on CoLucid Pharmaceuticals from $23.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, September 6th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. CoLucid Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $33.05.
CoLucid Pharmaceuticals (NASDAQ:CLCD) opened at 36.26 on Friday. The firm’s 50-day moving average price is $20.43 and its 200 day moving average price is $10.63. CoLucid Pharmaceuticals has a one year low of $3.60 and a one year high of $39.27. The firm’s market capitalization is $556.01 million.
CoLucid Pharmaceuticals (NASDAQ:CLCD) last posted its earnings results on Wednesday, August 10th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by $0.22. On average, equities analysts anticipate that CoLucid Pharmaceuticals will post ($3.91) earnings per share for the current fiscal year.
In other news, CEO Thomas P. Mathers sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $23.32, for a total transaction of $139,920.00. Following the transaction, the chief executive officer now directly owns 244,714 shares of the company’s stock, valued at $5,706,730.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas P. Mathers sold 6,502 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $21.72, for a total value of $141,223.44. Following the transaction, the chief executive officer now directly owns 256,916 shares in the company, valued at $5,580,215.52. The disclosure for this sale can be found here. 13.70% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Societe Generale bought a new position in shares of CoLucid Pharmaceuticals during the second quarter worth about $464,000. FMR LLC bought a new position in shares of CoLucid Pharmaceuticals during the second quarter worth about $554,000. Finally, Vanguard Group Inc. boosted its position 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 during the period. 30.47% of the stock is currently owned by hedge funds and other institutional investors.
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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