CoLucid Pharmaceuticals Inc. (CLCD) Stock Price Up 6.4% Following Analyst Upgrade
CoLucid Pharmaceuticals Inc. (NASDAQ:CLCD) shares shot up 6.4% 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 trading hands. The stock had previously closed at $30.20.
A number of other research analysts also recently commented on CLCD. Zacks Investment Research upgraded shares of CoLucid Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Piper Jaffray Cos. reiterated a “buy” rating and set a $36.00 price objective on shares of CoLucid Pharmaceuticals in a research note on Thursday, September 15th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $30.45.
In other CoLucid Pharmaceuticals news, major shareholder Domain Partners Vi, L.P. sold 153,028 shares of the stock in a transaction 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 legal filing with the SEC, which is available through the SEC website. Also, major shareholder A/S Novo bought 100,000 shares of the company’s stock in a transaction on Friday, September 9th. The shares were acquired at an average cost of $20.00 per share, for a total transaction of $2,000,000.00. Following the completion of the acquisition, the insider now directly owns 3,156,563 shares of the company’s stock, valued at approximately $63,131,260. The disclosure for this purchase can be found here. Company insiders own 13.70% of the company’s stock.
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Several hedge funds have recently modified their holdings of the company. Societe Generale acquired a new stake in shares of CoLucid Pharmaceuticals during the second quarter worth $464,000. Vanguard Group Inc. boosted 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. Finally, FMR LLC acquired a new stake in shares of CoLucid Pharmaceuticals during the second quarter worth $554,000. 36.92% of the stock is currently owned by institutional investors.
The firm’s market cap is $497.43 million. The firm has a 50 day moving average price of $13.17 and a 200 day moving average price of $8.65.
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 the Zacks’ consensus estimate of ($0.84) by $0.22. Equities analysts anticipate that CoLucid Pharmaceuticals Inc. will post ($3.91) EPS for the current fiscal year.
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.
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