Concert Pharmaceuticals Inc (NASDAQ:CNCE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
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. “
CNCE has been the subject of a number of other reports. HC Wainwright initiated coverage on Concert Pharmaceuticals in a research report on Monday, July 24th. They issued a “buy” rating and a $20.00 price target for the company. ValuEngine raised Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. Aegis reissued a “buy” rating and issued a $25.00 price target on shares of Concert Pharmaceuticals in a research report on Monday, June 12th. BidaskClub lowered Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $30.00 price target (down from $31.00) on shares of Concert Pharmaceuticals in a research report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $25.17.
Shares of Concert Pharmaceuticals (NASDAQ CNCE) traded down 2.52% during mid-day trading on Thursday, hitting $13.91. 209,898 shares of the company were exchanged. The firm has a 50 day moving average of $14.29 and a 200 day moving average of $13.85. The company’s market capitalization is $310.58 million. Concert Pharmaceuticals has a 12-month low of $7.11 and a 12-month high of $19.11.
Concert Pharmaceuticals (NASDAQ:CNCE) last released its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.58) EPS for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.04. The business had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.20 million. Concert Pharmaceuticals had a negative return on equity of 74.97% and a negative net margin of 86,846.66%. Equities research analysts forecast that Concert Pharmaceuticals will post ($2.48) earnings per share for the current year.
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A number of large investors have recently added to or reduced their stakes in CNCE. Rockefeller Financial Services Inc. increased its position in shares of Concert Pharmaceuticals by 19.6% in the first quarter. Rockefeller Financial Services Inc. now owns 10,289 shares of the biotechnology company’s stock worth $176,000 after buying an additional 1,689 shares during the period. FMR LLC increased its position in shares of Concert Pharmaceuticals by 17.7% in the fourth quarter. FMR LLC now owns 100,000 shares of the biotechnology company’s stock worth $1,029,000 after buying an additional 15,056 shares during the period. Fisher Asset Management LLC increased its position in shares of Concert Pharmaceuticals by 22.7% in the first quarter. Fisher Asset Management LLC now owns 44,363 shares of the biotechnology company’s stock worth $757,000 after buying an additional 8,200 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Concert Pharmaceuticals during the fourth quarter worth about $440,000. Finally, State Street Corp increased its position in shares of Concert Pharmaceuticals by 3.8% in the fourth quarter. State Street Corp now owns 349,505 shares of the biotechnology company’s stock worth $3,594,000 after buying an additional 12,690 shares during the period. 62.80% of the stock is owned by institutional investors and hedge funds.
About Concert Pharmaceuticals
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. The Company’s deuterated chemical entity platform (DCE Platform), has potential across various therapeutic areas.
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