Concert Pharmaceuticals (CNCE) Upgraded to “Strong-Buy” by BidaskClub

BidaskClub upgraded shares of Concert Pharmaceuticals (NASDAQ:CNCE) from a buy rating to a strong-buy rating in a report issued on Saturday morning.

A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Concert Pharmaceuticals from a sell rating to a hold rating in a report on Wednesday, November 15th. ValuEngine raised shares of Concert Pharmaceuticals from a sell rating to a hold rating in a report on Friday, September 1st. Mizuho initiated coverage on shares of Concert Pharmaceuticals in a report on Thursday, October 26th. They issued a buy rating and a $23.00 target price on the stock. HC Wainwright reaffirmed a buy rating and issued a $21.00 target price on shares of Concert Pharmaceuticals in a report on Friday, October 20th. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $30.00 target price on shares of Concert Pharmaceuticals in a report on Sunday, October 22nd. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Concert Pharmaceuticals presently has an average rating of Buy and an average target price of $23.00.

Shares of Concert Pharmaceuticals (NASDAQ:CNCE) traded up $0.04 during trading hours on Friday, reaching $24.90. Concert Pharmaceuticals has a 1 year low of $7.11 and a 1 year high of $26.37.

In related news, insider Value Fund L. P. Biotechnology purchased 331,916 shares of the firm’s stock in a transaction that occurred on Thursday, October 19th. The shares were acquired at an average price of $15.84 per share, for a total transaction of $5,257,549.44. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ryan Lynch sold 3,500 shares of the company’s stock in a transaction dated 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 approximately $137,845. The disclosure for this sale can be found here. 10.10% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CNCE. Vanguard Group Inc. grew its stake in Concert Pharmaceuticals by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 681,712 shares of the biotechnology company’s stock valued at $11,630,000 after buying an additional 38,892 shares during the last quarter. Geode Capital Management LLC grew its stake in Concert Pharmaceuticals by 0.6% in the 1st quarter. Geode Capital Management LLC now owns 142,740 shares of the biotechnology company’s stock valued at $2,435,000 after buying an additional 838 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Concert Pharmaceuticals by 143.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 32,349 shares of the biotechnology company’s stock valued at $552,000 after buying an additional 19,046 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in Concert Pharmaceuticals by 47.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 32,122 shares of the biotechnology company’s stock valued at $449,000 after buying an additional 10,400 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in Concert Pharmaceuticals by 8.0% in the 2nd quarter. Rhumbline Advisers now owns 20,253 shares of the biotechnology company’s stock valued at $283,000 after buying an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 65.36% of the company’s stock.

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Concert Pharmaceuticals Company Profile

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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