Concert Pharmaceuticals (NASDAQ:CNCE) Announces Quarterly Earnings Results, Beats Expectations By $0.13 EPS

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Concert Pharmaceuticals (NASDAQ:CNCE) issued its earnings results on Thursday. The biotechnology company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($0.85) by $0.13, Fidelity Earnings reports. The company had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.35 million. Concert Pharmaceuticals had a negative return on equity of 49.44% and a negative net margin of 7,303.34%.

CNCE traded up $0.33 during midday trading on Friday, reaching $6.73. 303,600 shares of the company’s stock traded hands, compared to its average volume of 223,753. The firm has a fifty day moving average of $6.77 and a two-hundred day moving average of $9.76. The company has a debt-to-equity ratio of 0.12, a current ratio of 19.63 and a quick ratio of 19.63. Concert Pharmaceuticals has a 52 week low of $5.36 and a 52 week high of $17.83. The stock has a market capitalization of $152.32 million, a price-to-earnings ratio of -2.80 and a beta of 0.88.

A number of research analysts have commented on CNCE shares. SunTrust Banks lowered their price target on Concert Pharmaceuticals from $30.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, September 30th. HC Wainwright lowered their price target on Concert Pharmaceuticals from $29.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Zacks Investment Research lowered Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday. Stifel Nicolaus lowered Concert Pharmaceuticals from a “buy” rating to a “hold” rating and lowered their price target for the company from $18.00 to $8.00 in a research report on Friday, September 27th. Finally, BidaskClub lowered Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, September 28th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $15.63.

In other Concert Pharmaceuticals news, Director Heek Christi Van bought 5,000 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were acquired at an average cost of $5.90 per share, for a total transaction of $29,500.00. Following the purchase, the director now owns 5,000 shares in the company, valued at approximately $29,500. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 11.00% of the company’s stock.

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.

Further Reading: Analyzing a company’s cash flow statement

Earnings History for Concert Pharmaceuticals (NASDAQ:CNCE)

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