Zacks Investment Research upgraded shares of Concert Pharmaceuticals (NASDAQ:CNCE) from a sell rating to a hold rating in a report published 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. “
Several other equities analysts have also recently issued reports on the stock. BidaskClub cut shares of Concert Pharmaceuticals from a strong-buy rating to a buy rating in a research note on Friday, December 22nd. 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. Mizuho reaffirmed a hold rating and issued a $23.00 price objective on shares of Concert Pharmaceuticals in a research note on Tuesday, February 13th. Stifel Nicolaus reaffirmed a buy rating and issued a $27.00 price objective on shares of Concert Pharmaceuticals in a research note on Friday, January 12th. Finally, TheStreet raised shares of Concert Pharmaceuticals from a d rating to a c+ rating in a research note on Wednesday, November 29th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Concert Pharmaceuticals has an average rating of Buy and a consensus target price of $25.67.
Concert Pharmaceuticals (NASDAQ:CNCE) last announced its quarterly earnings data on Thursday, March 1st. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.08). The business had revenue of $0.01 million during the quarter, compared to analyst estimates of $8.11 million. Concert Pharmaceuticals had a negative return on equity of 36.25% and a net margin of 66.47%. research analysts predict that Concert Pharmaceuticals will post -2.35 earnings per share for the current year.
In other news, insider Value Fund L. P. Biotechnology sold 1,282,856 shares of Concert Pharmaceuticals stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $26.65, for a total value of $34,188,112.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard Aldrich sold 5,000 shares of Concert Pharmaceuticals stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $20.46, for a total transaction of $102,300.00. Following the completion of the transaction, the director now directly owns 286,975 shares in the company, valued at $5,871,508.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,419,092 shares of company stock worth $36,876,675. 10.10% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of Concert Pharmaceuticals in the fourth quarter worth approximately $329,000. MetLife Investment Advisors LLC purchased a new position in shares of Concert Pharmaceuticals in the fourth quarter worth approximately $232,000. Gotham Asset Management LLC purchased a new position in shares of Concert Pharmaceuticals in the fourth quarter worth approximately $402,000. Metropolitan Life Insurance Co. NY purchased a new position in shares of Concert Pharmaceuticals in the fourth quarter worth approximately $164,000. Finally, Jane Street Group LLC purchased a new position in shares of Concert Pharmaceuticals in the fourth quarter worth approximately $451,000. 71.74% of the stock is currently 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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