CoLucid Pharmaceuticals Inc. (CLCD) Coverage Initiated by Analysts at Barclays PLC

CoLucid Pharmaceuticals Inc. (CLCD) Coverage Initiated by Analysts at Barclays PLC

Barclays PLC began coverage on shares of CoLucid Pharmaceuticals Inc. (NASDAQ:CLCD) in a research report report published on Thursday morning. The firm issued an overweight rating and a $45.00 price objective on the biopharmaceutical company’s stock.

A number of other brokerages have also issued reports on CLCD. Stifel Nicolaus boosted their price target on CoLucid Pharmaceuticals from $30.00 to $40.00 and gave the company a buy rating in a report on Monday, October 24th. Piper Jaffray Cos. set a $49.00 price target on CoLucid Pharmaceuticals and gave the company an overweight rating in a report on Friday, September 30th. Zacks Investment Research upgraded CoLucid Pharmaceuticals from a sell rating to a hold rating and set a $41.00 price target for the company in a report on Tuesday, November 8th. Finally, Ladenburg Thalmann set a $57.00 price target on CoLucid Pharmaceuticals and gave the company a buy rating in a report on Monday, September 19th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $46.40.

Shares of CoLucid Pharmaceuticals (NASDAQ:CLCD) traded down 1.21% during mid-day trading on Thursday, reaching $36.60. The company’s stock had a trading volume of 53,600 shares. The firm’s 50 day moving average is $35.00 and its 200 day moving average is $21.22. The firm’s market cap is $704.40 million. CoLucid Pharmaceuticals has a one year low of $4.57 and a one year high of $40.80.

In other news, CFO Matthew D. Dallas sold 1,473 shares of the company’s stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $35.17, for a total transaction of $51,805.41. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Thomas P. Mathers sold 1,502 shares of the company’s stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $37.08, for a total value of $55,694.16. Following the transaction, the chief executive officer now directly owns 248,169 shares in the company, valued at $9,202,106.52. The disclosure for this sale can be found here. Insiders own 13.70% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Northern Trust Corp acquired a new position in shares of CoLucid Pharmaceuticals during the third quarter worth about $421,000. Emerald Acquisition Ltd. acquired a new position in shares of CoLucid Pharmaceuticals during the third quarter worth about $2,224,000. Ameriprise Financial Inc. acquired a new position in shares of CoLucid Pharmaceuticals during the third quarter worth about $2,175,000. BlackRock Institutional Trust Company N.A. acquired a new position in shares of CoLucid Pharmaceuticals during the third quarter worth about $3,422,000. Finally, Monashee Investment Management LLC acquired a new position in shares of CoLucid Pharmaceuticals during the third quarter worth about $420,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.

Posted by Don Majors on Dec 16th, 2016

Source: http://sportsperspectives.com/

December 16, 2016 / Pharma News