CoLucid Pharmaceuticals Inc. (CLCD) Stock Price Up 6.4% After Analyst Upgrade
CoLucid Pharmaceuticals Inc. (NASDAQ:CLCD) shares traded up 6.4% during mid-day trading 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 changing hands. The stock had previously closed at $30.20.
Several other analysts have also commented on CLCD. Zacks Investment Research upgraded shares of CoLucid Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $21.00 price target on shares of CoLucid Pharmaceuticals in a research report on Friday, September 9th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $30.45.
In related news, major shareholder Domain Partners Vi, L.P. sold 153,028 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $8.45, for a total transaction of $1,293,086.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Thomas P. Mathers sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $23.32, for a total transaction of $139,920.00. Following the sale, the chief executive officer now owns 244,714 shares in the company, valued at approximately $5,706,730.48. The disclosure for this sale can be found here. Corporate insiders own 13.70% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake 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 during the period. FMR LLC purchased a new stake in shares of CoLucid Pharmaceuticals during the second quarter worth about $554,000. Finally, Societe Generale purchased a new stake in shares of CoLucid Pharmaceuticals during the second quarter worth about $464,000. Hedge funds and other institutional investors own 36.92% of the company’s stock.
The stock’s market cap is $509.24 million. The stock has a 50 day moving average price of $14.60 and a 200 day moving average price of $9.03.
CoLucid Pharmaceuticals (NASDAQ:CLCD) last released its quarterly earnings results on Wednesday, August 10th. The biopharmaceutical company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by $0.22. Equities research analysts forecast that CoLucid Pharmaceuticals Inc. will post ($3.91) EPS for the current year.
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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