Shares of Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) have been assigned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $26.20.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday. HC Wainwright reissued a “buy” rating and set a $21.00 price objective on shares of Concert Pharmaceuticals in a research report on Friday, October 20th. Mizuho assumed coverage on shares of Concert Pharmaceuticals in a research report on Thursday. They set a “buy” rating and a $23.00 price objective for the company. Stifel Nicolaus reissued a “buy” rating and set a $30.00 price objective on shares of Concert Pharmaceuticals in a research report on Sunday. Finally, ValuEngine raised shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, September 1st.
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In related news, insider Ryan Lynch sold 3,500 shares of the stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $14.51, for a total transaction of $50,785.00. Following the completion of the transaction, the insider now owns 9,500 shares in the company, valued at $137,845. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Value Fund L. P. Biotechnology bought 331,916 shares of Concert Pharmaceuticals stock in a transaction that occurred on Thursday, October 19th. The shares were acquired at an average price of $15.84 per share, with a total value of $5,257,549.44. The disclosure for this purchase can be found here. Corporate insiders own 10.10% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in CNCE. Bank of New York Mellon Corp boosted its holdings in Concert Pharmaceuticals by 4.1% during the first quarter. Bank of New York Mellon Corp now owns 124,144 shares of the biotechnology company’s stock worth $2,118,000 after purchasing an additional 4,873 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Concert Pharmaceuticals by 27.5% during the first quarter. JPMorgan Chase & Co. now owns 52,783 shares of the biotechnology company’s stock worth $900,000 after purchasing an additional 11,392 shares during the last quarter. American International Group Inc. lifted its stake in Concert Pharmaceuticals by 7.1% in the first quarter. American International Group Inc. now owns 10,156 shares of the biotechnology company’s stock valued at $173,000 after acquiring an additional 677 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in Concert Pharmaceuticals by 18.0% in the first quarter. TIAA CREF Investment Management LLC now owns 125,183 shares of the biotechnology company’s stock valued at $2,136,000 after acquiring an additional 19,078 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Concert Pharmaceuticals by 6.1% in the first quarter. Vanguard Group Inc. now owns 681,712 shares of the biotechnology company’s stock valued at $11,630,000 after acquiring an additional 38,892 shares during the last quarter. Institutional investors and hedge funds own 61.50% of the company’s stock.
Concert Pharmaceuticals (CNCE) traded down 1.10% during trading on Thursday, reaching $16.24. 225,768 shares of the company were exchanged. The firm’s market cap is $368.44 million. Concert Pharmaceuticals has a 52-week low of $7.11 and a 52-week high of $19.11. The firm has a 50-day moving average of $15.06 and a 200-day moving average of $14.65.
Concert Pharmaceuticals (NASDAQ:CNCE) last issued its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.58) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.62) by $0.04. Concert Pharmaceuticals had a negative net margin of 60,681.70% and a negative return on equity of 61.98%. The company had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.20 million. On average, equities analysts forecast that Concert Pharmaceuticals will post ($2.18) EPS for the current year.
About Concert Pharmaceuticals
Concert Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery and development of small molecule drugs. The Company operates through the development of pharmaceutical products on its own behalf or in collaboration with others. The Company’s deuterated chemical entity platform (DCE Platform), has potential across various therapeutic areas.
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