Zacks Investment Research upgraded shares of Concert Pharmaceuticals (NASDAQ:CNCE) from a hold rating to a buy rating in a report published on Tuesday morning, Zacks.com reports. The firm currently has $11.00 price objective on the biotechnology company’s stock.
According to Zacks, “Concert Pharmaceuticals Inc. is a biopharmaceutical company. It is focused on applying its DCE Platform (R) to create novel small molecule drugs. The Company manufactures drugs in various therapeutic areas such as hot flashes, HIV, renal hepatic, neuropathic pain, MRSA infection, and schizophrenia, multiple tumors, and hyperparathyroidism. Concert Pharmaceuticals Inc. is based in United States. “
Other equities research analysts have also recently issued research reports about the company. ValuEngine cut Concert Pharmaceuticals from a strong-buy rating to a buy rating in a report on Friday, March 27th. Jefferies Financial Group assumed coverage on Concert Pharmaceuticals in a report on Monday, March 30th. They set a buy rating and a $23.00 target price on the stock. Mizuho reissued a buy rating and set a $18.00 target price on shares of Concert Pharmaceuticals in a report on Monday, June 1st. Finally, BidaskClub cut Concert Pharmaceuticals from a buy rating to a hold rating in a report on Friday, June 26th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Concert Pharmaceuticals presently has a consensus rating of Buy and a consensus target price of $18.29.
Concert Pharmaceuticals (NASDAQ:CNCE) last released its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.04. The company had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.02 million. Concert Pharmaceuticals had a negative net margin of 97,236.70% and a negative return on equity of 60.38%. On average, research analysts predict that Concert Pharmaceuticals will post -2.89 earnings per share for the current fiscal year.
In other Concert Pharmaceuticals news, COO Nancy Stuart sold 10,295 shares of Concert Pharmaceuticals stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $11.34, for a total value of $116,745.30. Following the transaction, the chief operating officer now owns 167,924 shares in the company, valued at $1,904,258.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 10.10% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. State Street Corp grew its position in Concert Pharmaceuticals by 1.1% during the 4th quarter. State Street Corp now owns 408,256 shares of the biotechnology company’s stock worth $3,766,000 after purchasing an additional 4,531 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Concert Pharmaceuticals by 5.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 51,302 shares of the biotechnology company’s stock worth $474,000 after purchasing an additional 2,475 shares in the last quarter. Barclays PLC grew its position in Concert Pharmaceuticals by 93.0% during the 4th quarter. Barclays PLC now owns 22,107 shares of the biotechnology company’s stock worth $204,000 after purchasing an additional 10,653 shares in the last quarter. Panagora Asset Management Inc. grew its position in Concert Pharmaceuticals by 13.6% during the 4th quarter. Panagora Asset Management Inc. now owns 227,400 shares of the biotechnology company’s stock worth $2,098,000 after purchasing an additional 27,191 shares in the last quarter. Finally, Citigroup Inc. grew its position in Concert Pharmaceuticals by 64.8% during the 4th quarter. Citigroup Inc. now owns 5,135 shares of the biotechnology company’s stock worth $47,000 after purchasing an additional 2,020 shares in the last quarter. Hedge funds and other institutional investors own 66.66% 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.
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