Concert Pharmaceuticals Inc. (NASDAQ:CNCE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Concert Pharmaceuticals Inc. is a biopharmaceutical company. It is focused on applying its DCE Platform (R) to create novel small molecule drugs. The Company manufactures drugs in various therapeutic areas such as hot flashes, HIV, renal hepatic, neuropathic pain, MRSA infection, and schizophrenia, multiple tumors, and hyperparathyroidism. Concert Pharmaceuticals Inc. is based in United States. “
Several other research analysts have also recently commented on CNCE. Stifel Nicolaus initiated coverage on Concert Pharmaceuticals in a research report on Friday, July 1st. They set a “buy” rating and a $23.00 price target for the company. Brean Capital reaffirmed a “buy” rating on shares of Concert Pharmaceuticals in a research report on Monday, July 11th. Two research analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $25.50.
Shares of Concert Pharmaceuticals (NASDAQ:CNCE) opened at 9.41 on Tuesday. Concert Pharmaceuticals has a one year low of $9.34 and a one year high of $25.04. The stock’s 50 day moving average price is $10.06 and its 200 day moving average price is $11.76. The firm’s market cap is $209.16 million.
Concert Pharmaceuticals (NASDAQ:CNCE) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.03. Concert Pharmaceuticals had a negative return on equity of 29.09% and a negative net margin of 289.85%. On average, equities analysts anticipate that Concert Pharmaceuticals will post ($2.51) earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in CNCE. American International Group Inc. raised its position in shares of Concert Pharmaceuticals by 5.4% in the second quarter. American International Group Inc. now owns 9,490 shares of the company’s stock worth $107,000 after buying an additional 483 shares during the period. Rhumbline Advisers raised its position in shares of Concert Pharmaceuticals by 16.3% in the second quarter. Rhumbline Advisers now owns 17,248 shares of the company’s stock worth $194,000 after buying an additional 2,414 shares during the period. ProShare Advisors LLC raised its position in shares of Concert Pharmaceuticals by 1.8% in the second quarter. ProShare Advisors LLC now owns 18,558 shares of the company’s stock worth $208,000 after buying an additional 326 shares during the period. Algert Global LLC purchased a new position in shares of Concert Pharmaceuticals during the third quarter worth $202,000. Finally, Teachers Advisors Inc. raised its position in shares of Concert Pharmaceuticals by 10.6% in the second quarter. Teachers Advisors Inc. now owns 24,624 shares of the company’s stock worth $277,000 after buying an additional 2,356 shares during the period. Institutional investors own 61.68% of the company’s stock.
Concert Pharmaceuticals Company Profile
Concert Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery and development of small molecule drugs. The Company operates through the development of pharmaceutical products on its own behalf or in collaboration with others segment. It has clinical candidates under development, including AVP-786, CTP-656, CTP-730 and JZP-386.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Concert Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Concert Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.