Mizuho upgraded shares of Concert Pharmaceuticals (NASDAQ:CNCE) from a neutral rating to a buy rating in a research report sent to investors on Friday, Marketbeat reports. Mizuho currently has $27.00 target price on the biotechnology company’s stock, up from their prior target price of $23.00.
“We researched the indication and believe there is significant potential for Concert’s drug to be differentiated from the current standard of care products by improving negative and cognitive symptoms. We assigned a conservative valuation to CTP-692; our PT goes to $27 and our rating to Buy.”,” Mizuho’s analyst commented.
A number of other equities analysts have also commented on CNCE. HC Wainwright reaffirmed a buy rating and issued a $21.00 price objective on shares of Concert Pharmaceuticals in a research note on Friday, November 10th. Zacks Investment Research raised shares of Concert Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday, November 15th. TheStreet raised shares of Concert Pharmaceuticals from a d rating to a c+ rating in a research note on Wednesday, November 29th. BidaskClub raised shares of Concert Pharmaceuticals from a buy rating to a strong-buy rating in a research note on Saturday, December 9th. Finally, UBS Group set a $34.00 price objective on shares of Concert Pharmaceuticals and gave the stock a buy rating in a research note on Tuesday, December 19th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Concert Pharmaceuticals presently has an average rating of Buy and an average price target of $25.67.
Concert Pharmaceuticals (NASDAQ:CNCE) last posted its quarterly earnings data on Thursday, March 1st. The biotechnology company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.08). Concert Pharmaceuticals had a negative return on equity of 36.25% and a net margin of 66.47%. The firm had revenue of $0.01 million during the quarter, compared to analyst estimates of $8.11 million. research analysts expect that Concert Pharmaceuticals will post -2.35 earnings per share for the current year.
In other Concert Pharmaceuticals news, insider Value Fund L. P. Biotechnology sold 1,282,856 shares of Concert Pharmaceuticals stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $26.65, for a total transaction of $34,188,112.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Aldrich sold 30,000 shares of Concert Pharmaceuticals stock in a transaction on Friday, January 19th. The shares were sold at an average price of $19.35, for a total transaction of $580,500.00. Following the sale, the director now directly owns 286,975 shares of the company’s stock, valued at approximately $5,552,966.25. The disclosure for this sale can be found here. Insiders have sold a total of 1,419,092 shares of company stock valued at $36,876,675 in the last three months. Company insiders own 10.10% of the company’s stock.
Several large investors have recently modified their holdings of CNCE. BlackRock Inc. boosted its stake in shares of Concert Pharmaceuticals by 57.2% during the 4th quarter. BlackRock Inc. now owns 1,786,223 shares of the biotechnology company’s stock valued at $46,210,000 after buying an additional 649,808 shares during the period. Millennium Management LLC boosted its stake in shares of Concert Pharmaceuticals by 225.8% during the 4th quarter. Millennium Management LLC now owns 725,885 shares of the biotechnology company’s stock valued at $18,779,000 after buying an additional 503,066 shares during the period. Acadian Asset Management LLC bought a new position in shares of Concert Pharmaceuticals during the 4th quarter valued at $7,713,000. Bogle Investment Management L P DE bought a new position in shares of Concert Pharmaceuticals during the 4th quarter valued at $7,554,000. Finally, Senvest Management LLC raised its holdings in shares of Concert Pharmaceuticals by 458.8% during the 3rd quarter. Senvest Management LLC now owns 314,629 shares of the biotechnology company’s stock valued at $4,641,000 after purchasing an additional 258,329 shares in the last quarter. 71.74% of the stock is owned by institutional investors.
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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. The Company’s deuterated chemical entity platform (DCE Platform), has potential across various therapeutic areas.
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