Concert Pharmaceuticals Inc (NASDAQ:CNCE) has received a consensus rating of “Buy” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $26.00.
Several brokerages have recently issued reports on CNCE. TheStreet raised shares of Concert Pharmaceuticals from a “c+” rating to a “b-” rating in a research note on Monday, January 8th. Mizuho lowered shares of Concert Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $23.00 target price on the stock. in a research note on Friday. UBS Group set a $34.00 target price on shares of Concert Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, December 19th. BidaskClub lowered shares of Concert Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 22nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $27.00 target price on shares of Concert Pharmaceuticals in a research note on Friday.
Shares of Concert Pharmaceuticals (CNCE) traded down $7.53 during midday trading on Tuesday, hitting $20.15. 3,408,205 shares of the stock traded hands, compared to its average volume of 419,925. Concert Pharmaceuticals has a one year low of $8.61 and a one year high of $30.71.
In related news, Director Ronald W. Barrett sold 14,156 shares of Concert Pharmaceuticals stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $24.70, for a total transaction of $349,653.20. Following the transaction, the director now owns 3,539 shares of the company’s stock, valued at approximately $87,413.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Value Fund L. P. Biotechnology acquired 331,916 shares of Concert Pharmaceuticals stock in a transaction that occurred on Thursday, October 19th. The shares were purchased at an average cost of $15.84 per share, for a total transaction of $5,257,549.44. The disclosure for this purchase can be found here. 10.10% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in CNCE. SG Americas Securities LLC bought a new position in Concert Pharmaceuticals during the 3rd quarter worth approximately $153,000. Alliancebernstein L.P. bought a new position in Concert Pharmaceuticals during the 2nd quarter worth approximately $174,000. State of Wisconsin Investment Board bought a new position in Concert Pharmaceuticals during the 2nd quarter worth approximately $181,000. The Manufacturers Life Insurance Company boosted its stake in Concert Pharmaceuticals by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,052 shares of the biotechnology company’s stock worth $210,000 after acquiring an additional 287 shares during the last quarter. Finally, Airain ltd bought a new position in Concert Pharmaceuticals during the 2nd quarter worth approximately $215,000. 65.29% of the stock is currently owned by institutional investors and hedge funds.
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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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