Brokerages Set Concert Pharmaceuticals Inc (CNCE) Price Target at $20.00

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Shares of Concert Pharmaceuticals Inc (NASDAQ:CNCE) have received a consensus rating of “Hold” from the ten analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $20.00.

Several equities analysts have recently weighed in on CNCE shares. HC Wainwright reissued a “buy” rating and set a $26.00 target price on shares of Concert Pharmaceuticals in a research report on Friday, May 3rd. Mizuho reaffirmed a “buy” rating on shares of Concert Pharmaceuticals in a research report on Friday, May 3rd. UBS Group set a $13.00 price objective on Concert Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, April 10th. Stifel Nicolaus cut their price objective on Concert Pharmaceuticals from $27.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. Finally, BidaskClub downgraded Concert Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 27th.

NASDAQ CNCE opened at $10.99 on Friday. The company has a current ratio of 20.44, a quick ratio of 20.44 and a debt-to-equity ratio of 0.11. Concert Pharmaceuticals has a fifty-two week low of $9.21 and a fifty-two week high of $20.62.

Concert Pharmaceuticals (NASDAQ:CNCE) last released its earnings results on Thursday, May 2nd. The biotechnology company reported ($0.93) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.62) by ($0.31). The company had revenue of $1.01 million for the quarter, compared to the consensus estimate of $16.08 million. Concert Pharmaceuticals had a negative net margin of 7,118.04% and a negative return on equity of 41.72%. As a group, equities research analysts expect that Concert Pharmaceuticals will post -3.86 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in CNCE. Bank of New York Mellon Corp grew its position in Concert Pharmaceuticals by 5.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 180,780 shares of the biotechnology company’s stock valued at $2,682,000 after acquiring an additional 9,932 shares during the last quarter. JPMorgan Chase & Co. grew its position in Concert Pharmaceuticals by 23.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 186,831 shares of the biotechnology company’s stock valued at $2,773,000 after acquiring an additional 34,920 shares during the last quarter. MetLife Investment Advisors LLC grew its position in Concert Pharmaceuticals by 55.5% in the 3rd quarter. MetLife Investment Advisors LLC now owns 13,953 shares of the biotechnology company’s stock valued at $207,000 after acquiring an additional 4,980 shares during the last quarter. Morgan Stanley grew its position in Concert Pharmaceuticals by 29.7% in the 3rd quarter. Morgan Stanley now owns 106,304 shares of the biotechnology company’s stock valued at $1,577,000 after acquiring an additional 24,361 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Concert Pharmaceuticals by 8.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,225,849 shares of the biotechnology company’s stock valued at $18,192,000 after acquiring an additional 91,659 shares during the last quarter. 74.60% of the stock is currently owned by institutional investors.

About Concert Pharmaceuticals

Concert Pharmaceuticals, Inc operates as a clinical stage biopharmaceutical company. The company discovers and develops novel small molecule drugs for use in the treatment 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, a once-nightly oxybate product; and CTP-543, which is in Phase 1 clinical trials for use in the treatment of alopecia areata.

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Analyst Recommendations for Concert Pharmaceuticals (NASDAQ:CNCE)

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