Concert Pharmaceuticals (CNCE) Rating Increased to Buy at ValuEngine

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ValuEngine upgraded shares of Concert Pharmaceuticals (NASDAQ:CNCE) from a hold rating to a buy rating in a report published on Tuesday morning.

Other analysts have also issued reports about the stock. HC Wainwright restated a buy rating on shares of Concert Pharmaceuticals in a research note on Friday, August 3rd. Mizuho restated a buy rating and set a $27.00 target price on shares of Concert Pharmaceuticals in a research note on Thursday, August 2nd. Zacks Investment Research lowered shares of Concert Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, October 3rd. Janney Montgomery Scott started coverage on shares of Concert Pharmaceuticals in a research note on Thursday, September 13th. They set a neutral rating on the stock. Finally, BidaskClub upgraded shares of Concert Pharmaceuticals from a strong sell rating to a sell rating in a research note on Thursday, September 20th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Concert Pharmaceuticals currently has an average rating of Buy and an average target price of $26.80.

Shares of CNCE opened at $14.84 on Tuesday. The stock has a market cap of $358.25 million, a PE ratio of 3.74 and a beta of 1.00. Concert Pharmaceuticals has a 1 year low of $12.33 and a 1 year high of $30.71.

Concert Pharmaceuticals (NASDAQ:CNCE) last issued its quarterly earnings results on Thursday, August 2nd. The biotechnology company reported ($0.57) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.62) by $0.05. Concert Pharmaceuticals had a net margin of 67.52% and a negative return on equity of 19.73%. Research analysts expect that Concert Pharmaceuticals will post -2.06 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in CNCE. Meeder Asset Management Inc. increased its stake in shares of Concert Pharmaceuticals by 679.4% during the second quarter. Meeder Asset Management Inc. now owns 6,305 shares of the biotechnology company’s stock worth $106,000 after buying an additional 5,496 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Concert Pharmaceuticals in the second quarter valued at approximately $178,000. Cambria Investment Management L.P. purchased a new position in Concert Pharmaceuticals in the second quarter valued at approximately $216,000. Capital Fund Management S.A. purchased a new position in Concert Pharmaceuticals in the second quarter valued at approximately $244,000. Finally, Hartford Investment Management Co. purchased a new position in Concert Pharmaceuticals in the second quarter valued at approximately $259,000. Hedge funds and other institutional investors own 73.25% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Concert Pharmaceuticals (NASDAQ:CNCE)

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