Aegis Capital Corp. has reiterated a ‘Buy’ rating and $25 price target on the stock of Concert Pharmaceuticals, Inc. (NASDAQ: CNCE). The report follows the unexpected delay of the company’s CTP-543 phase 2a trial for alopecia areata. The delay of one quarter was caused by the tablet being unable to meet release criteria regarding appearance. The analyst noted this delay as insignificant and reiterated the ‘Buy’ rating.
For more information visit www.concertpharma.com
Concert Pharmaceuticals is a clinical stage biopharmaceutical company focused on applying its DCE Platform® (deuterated chemical entity platform) to create novel medicines designed to address unmet patient needs. The company’s approach starts with approved drugs in which deuterium substitution has the potential to enhance clinical safety, tolerability or efficacy. Concert has a broad pipeline of innovative medicines targeting pulmonary diseases, including cystic fibrosis, autoimmune and inflammatory diseases and central nervous systems (CNS) disorders.
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