Aegis Capital Corp. has reiterated a ‘Buy’ rating and $25 price target on the stock of Concert Pharmaceuticals, Inc. (NASDAQ: CNCE) following the company’s recent report of financial results for the year ended December 31, 2016. Revenue was $174,000 for the year ended December 31, 2016, compared to $66.7 million for the year ended December 31, 2015. However, because Concert is a clinical-stage company, Aegis cited the events surrounding clinical trials rather than financials. In its earnings release, Concert also announced an asset acquisition agreement in which Vertex Pharmaceuticals will acquire Concert’s CTP-656 for up to $250 million. Concert expects to present top-line data from the trial before year-end.
To view the full press release, visit: http://nnw.fm/f7sNQ
About Concert
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. For more information please visit www.concertpharma.com.
About NetworkNewsBreak
NetworkNewsBreak (NNB) provides a rapid summary of corporate news that caught the attention of NetworkNewsWire (NNW). NNB keeps you up-to-date on active US Public Companies complementary to NNW’s broader scope as a provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.networknewswire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
