Zacks: CoLucid Pharmaceuticals Inc. (CLCD) Given Average Rating of “Strong Buy” by Analysts
CoLucid Pharmaceuticals Inc. (NASDAQ:CLCD) has received an average broker rating score of 1.00 (Strong Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. Four analysts have rated the stock with a strong buy recommendation.
Analysts have set a 1 year consensus price objective of $40.25 for the company and are forecasting that the company will post ($1.01) EPS for the current quarter, according to Zacks. Zacks has also given CoLucid Pharmaceuticals an industry rank of 108 out of 265 based on the ratings given to its competitors.
Several equities analysts have weighed in on CLCD shares. Piper Jaffray Cos. reissued an “overweight” rating and set a $21.00 price target on shares of CoLucid Pharmaceuticals in a research report on Friday, September 9th. Ladenburg Thalmann lifted their price objective on CoLucid Pharmaceuticals from $23.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, September 6th. Zacks Investment Research raised CoLucid Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 17th. Finally, Stifel Nicolaus lifted their price objective on CoLucid Pharmaceuticals from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, September 19th.
Shares of CoLucid Pharmaceuticals (NASDAQ:CLCD) opened at 36.91 on Thursday. CoLucid Pharmaceuticals has a one year low of $3.60 and a one year high of $39.27. The firm’s 50-day moving average price is $24.44 and its 200 day moving average price is $11.74. The stock’s market cap is $565.98 million.
CoLucid Pharmaceuticals (NASDAQ:CLCD) last released its quarterly earnings results on Wednesday, August 10th. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.84) by $0.22. Equities research analysts expect that CoLucid Pharmaceuticals will post ($3.91) EPS for the current fiscal year.
In other news, major shareholder A/S Novo bought 100,000 shares of CoLucid Pharmaceuticals stock in a transaction that occurred on Friday, September 9th. The shares were purchased at an average price of $20.00 per share, for a total transaction of $2,000,000.00. Following the completion of the acquisition, the insider now owns 3,156,563 shares of the company’s stock, valued at $63,131,260. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Domain Partners Vi, L.P. sold 153,028 shares of CoLucid Pharmaceuticals stock in a transaction on Wednesday, August 3rd. The shares were 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 corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Societe Generale bought a new position in shares of CoLucid Pharmaceuticals during the second quarter worth approximately $464,000. FMR LLC bought a new position in shares of CoLucid Pharmaceuticals during the second quarter worth approximately $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 in the last quarter. Institutional investors own 30.47% of the company’s stock.
CoLucid Pharmaceuticals Company Profile
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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