Franklin Resources Inc. Has $15.59 Million Stake in Concert Pharmaceuticals Inc (CNCE)

Franklin Resources Inc. lowered its position in shares of Concert Pharmaceuticals Inc (NASDAQ:CNCE) by 12.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 602,600 shares of the biotechnology company’s stock after selling 84,400 shares during the period. Franklin Resources Inc. owned approximately 2.65% of Concert Pharmaceuticals worth $15,589,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Bogle Investment Management L P DE purchased a new stake in shares of Concert Pharmaceuticals during the fourth quarter valued at approximately $7,554,000. Geode Capital Management LLC raised its stake in shares of Concert Pharmaceuticals by 28.3% during the fourth quarter. Geode Capital Management LLC now owns 167,584 shares of the biotechnology company’s stock valued at $4,334,000 after purchasing an additional 36,982 shares during the period. EAM Investors LLC purchased a new stake in shares of Concert Pharmaceuticals during the fourth quarter valued at approximately $1,920,000. Princeton Capital Management LLC purchased a new stake in shares of Concert Pharmaceuticals during the fourth quarter valued at approximately $411,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Concert Pharmaceuticals during the fourth quarter valued at approximately $2,812,000. Institutional investors own 70.26% of the company’s stock.

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Shares of Concert Pharmaceuticals stock opened at $22.32 on Friday. Concert Pharmaceuticals Inc has a 12 month low of $11.88 and a 12 month high of $30.71.

Concert Pharmaceuticals (NASDAQ:CNCE) last issued its quarterly earnings results on Thursday, March 1st. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.08). The company had revenue of $0.01 million during the quarter, compared to the consensus estimate of $8.11 million. Concert Pharmaceuticals had a negative return on equity of 36.25% and a net margin of 66.47%. sell-side analysts predict that Concert Pharmaceuticals Inc will post -2.35 earnings per share for the current fiscal year.

A number of research firms have recently issued reports on CNCE. BidaskClub upgraded shares of Concert Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 9th. Mizuho lowered shares of Concert Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a research note on Friday, January 12th. Zacks Investment Research upgraded shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. TheStreet upgraded shares of Concert Pharmaceuticals from a “c+” rating to a “b-” rating in a research note on Monday, January 8th. Finally, UBS set a $34.00 price target on shares of Concert Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Concert Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $25.67.

In related news, 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 value of $580,500.00. Following the completion of the sale, the director now owns 286,975 shares in the company, valued at $5,552,966.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 136,236 shares of company stock valued at $2,688,563. Insiders own 10.10% of the company’s stock.

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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.

Institutional Ownership by Quarter for Concert Pharmaceuticals (NASDAQ:CNCE)

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