CoLucid Pharmaceuticals Inc. (NASDAQ:CLCD)’s share price fell 8.1% during mid-day trading on Tuesday . The company traded as low as $7.89 and last traded at $8.84, with a volume of 76,196 shares traded. The stock had previously closed at $9.62.

Separately, Zacks Investment Research cut CoLucid Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, June 8th.

The stock has a 50-day moving average price of $6.95 and a 200 day moving average price of $6.62. The stock’s market capitalization is $139.00 million.

CoLucid Pharmaceuticals (NASDAQ:CLCD) last announced its quarterly earnings results on Wednesday, May 11th. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.73) by $0.13. Equities analysts forecast that CoLucid Pharmaceuticals Inc. will post ($3.28) earnings per share for the current year.

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. The Company’s product candidates address the needs of migraine patients, including those with cardiovascular risk factors or stable cardiovascular disease and those dissatisfied with existing therapies.