Shares of CoLucid Pharmaceuticals Inc. (NASDAQ:CLCD) traded down 8.8% during mid-day trading on Wednesday . The stock traded as low as $30.75 and last traded at $31.01, with a volume of 914,816 shares traded. The stock had previously closed at $34.00.

Several analysts recently issued reports on the company. Zacks Investment Research upgraded CoLucid Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Stifel Nicolaus increased their target price on CoLucid Pharmaceuticals from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $21.00 target price on shares of CoLucid Pharmaceuticals in a research report on Friday, September 9th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. CoLucid Pharmaceuticals has an average rating of “Buy” and an average price target of $30.45.

The firm’s 50-day moving average is $13.90 and its 200-day moving average is $8.85. The stock’s market capitalization is $509.24 million.

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CoLucid Pharmaceuticals (NASDAQ:CLCD) last posted its quarterly earnings results on Wednesday, August 10th. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.84) by $0.22. On average, equities analysts expect that CoLucid Pharmaceuticals Inc. will post ($3.91) earnings per share for the current fiscal year.

In other news, CEO Thomas P. Mathers sold 6,000 shares of the company’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $23.32, for a total value of $139,920.00. Following the sale, the chief executive officer now owns 244,714 shares in the company, valued at $5,706,730.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas P. Mathers sold 6,502 shares of the company’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $21.72, for a total value of $141,223.44. Following the completion of the sale, the chief executive officer now owns 256,916 shares in the company, valued at approximately $5,580,215.52. The disclosure for this sale can be found here. Company insiders own 13.70% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Societe Generale bought a new stake in shares of CoLucid Pharmaceuticals during the second quarter worth approximately $464,000. FMR LLC bought a new stake in shares of CoLucid Pharmaceuticals during the second quarter worth approximately $554,000. Finally, Vanguard Group Inc. increased 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 last quarter. Hedge funds and other institutional investors own 36.92% of the company’s stock.

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.

5 Day Chart for NASDAQ:CLCD

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