CoLucid Pharmaceuticals Inc. (CLCD) Shares Up 6.4% After Analyst Upgrade
CoLucid Pharmaceuticals Inc. (NASDAQ:CLCD) was up 6.4% on Tuesday after Stifel Nicolaus raised their price target on the stock from $27.00 to $30.00. Stifel Nicolaus currently has a buy rating on the stock. CoLucid Pharmaceuticals traded as high as $32.18 and last traded at $32.12, with a volume of 641,883 shares traded. The stock had previously closed at $30.20.
Several other equities research analysts have also weighed in on the stock. Ladenburg Thalmann upped their target price on shares of CoLucid Pharmaceuticals from $23.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $21.00 target price on shares of CoLucid Pharmaceuticals in a report on Thursday, September 1st. Finally, Zacks Investment Research lowered shares of CoLucid Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, September 9th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $30.45.
In other CoLucid Pharmaceuticals news, CEO Thomas P. Mathers sold 6,502 shares of the stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $21.72, for a total transaction of $141,223.44. Following the sale, the chief executive officer now owns 256,916 shares of the company’s stock, valued at approximately $5,580,215.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas P. Mathers sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $23.32, for a total transaction of $139,920.00. Following the completion of the transaction, the chief executive officer now directly owns 244,714 shares in the company, valued at approximately $5,706,730.48. The disclosure for this sale can be found here. Company insiders own 13.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Societe Generale acquired a new position in shares of CoLucid Pharmaceuticals during the second quarter valued at about $464,000. FMR LLC acquired a new position in shares of CoLucid Pharmaceuticals during the second quarter valued at about $554,000. Finally, Vanguard Group Inc. raised 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 valued at $623,000 after buying an additional 900 shares during the period. 36.92% of the stock is currently owned by institutional investors.
The firm’s market cap is $521.36 million. The stock’s 50-day moving average is $13.90 and its 200 day moving average is $8.85.
CoLucid Pharmaceuticals (NASDAQ:CLCD) last posted its earnings results on Wednesday, August 10th. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.84) by $0.22. On average, equities research analysts expect that CoLucid Pharmaceuticals Inc. will post ($3.91) earnings per share for the current fiscal year.
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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