Zacks: Brokerages Anticipate Concert Pharmaceuticals (CNCE) Will Post Quarterly Sales of $20,000.00

Analysts expect Concert Pharmaceuticals (NASDAQ:CNCE) to post $20,000.00 in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Concert Pharmaceuticals’ earnings. Concert Pharmaceuticals also reported sales of $20,000.00 during the same quarter last year. The firm is expected to issue its next quarterly earnings report on Tuesday, May 1st.

On average, analysts expect that Concert Pharmaceuticals will report full year sales of $20,000.00 for the current financial year, with estimates ranging from $60,000.00 to $80,000.00. For the next year, analysts forecast that the business will post sales of $12.04 million per share, with estimates ranging from $8.00 million to $16.08 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Concert Pharmaceuticals.

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Concert Pharmaceuticals (NASDAQ:CNCE) last posted its quarterly earnings results on Thursday, March 1st. The biotechnology company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.08). Concert Pharmaceuticals had a net margin of 66.47% and a negative return on equity of 36.25%. The business had revenue of $0.01 million during the quarter, compared to analyst estimates of $8.11 million.

A number of research firms have weighed in on CNCE. ValuEngine upgraded Concert Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday. TheStreet cut Concert Pharmaceuticals from a “b-” rating to a “c” rating in a research note on Thursday, March 29th. BidaskClub cut Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, March 28th. Mizuho upgraded Concert Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their price target for the company from $23.00 to $27.00 in a research note on Friday, March 9th. Finally, Zacks Investment Research upgraded Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, March 8th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $25.67.

In other news, Director Richard Aldrich sold 11,946 shares of Concert Pharmaceuticals stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $20.89, for a total transaction of $249,551.94. Following the sale, the director now owns 286,975 shares in the company, valued at $5,994,907.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 136,236 shares of company stock worth $2,688,563 in the last quarter. Insiders own 10.10% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of CNCE. BlackRock Inc. increased its position in shares of Concert Pharmaceuticals by 57.2% during the fourth quarter. BlackRock Inc. now owns 1,786,223 shares of the biotechnology company’s stock worth $46,210,000 after purchasing an additional 649,808 shares in the last quarter. Millennium Management LLC increased its position in shares of Concert Pharmaceuticals by 225.8% during the fourth quarter. Millennium Management LLC now owns 725,885 shares of the biotechnology company’s stock worth $18,779,000 after purchasing an additional 503,066 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Concert Pharmaceuticals during the fourth quarter worth about $7,713,000. Bogle Investment Management L P DE acquired a new stake in shares of Concert Pharmaceuticals during the fourth quarter worth about $7,554,000. Finally, Senvest Management LLC increased its position in shares of Concert Pharmaceuticals by 458.8% during the third quarter. Senvest Management LLC now owns 314,629 shares of the biotechnology company’s stock worth $4,641,000 after purchasing an additional 258,329 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Concert Pharmaceuticals stock traded down $0.78 during midday trading on Friday, reaching $19.01. The company’s stock had a trading volume of 312,809 shares, compared to its average volume of 406,323. Concert Pharmaceuticals has a fifty-two week low of $11.88 and a fifty-two week high of $30.71. The stock has a market cap of $503.23, a PE ratio of 4.66 and a beta of 1.02.

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Concert Pharmaceuticals Company Profile

Concert Pharmaceuticals, Inc operates as a clinical stage biopharmaceutical company. The company discovers and develops novel small molecule drugs for use in the treatment of various pulmonary diseases, including autoimmune and inflammatory diseases, and central nervous systems disorders. Its product candidates include AVP-786, a combination of deudextromethorphan and an ultra-low dose of quinidine, which is in Phase 3 clinical trials for the treatment of neurologic and psychiatric disorders, including agitation associated with Alzheimer's disease; CTP-730, a deuterated analog of apremilast that has completed the Phase 1 clinical trials for the treatment of inflammation or cancer; JZP-386, which has completed the Phase 1 clinical trials for the treatment of patients with narcolepsy; and CTP-543, which is in Phase 1 clinical trials for use in the treatment of alopecia areata.

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