Concert Pharmaceuticals (CNCE) Receives Hold Rating from Mizuho

Mizuho reissued their hold rating on shares of Concert Pharmaceuticals (NASDAQ:CNCE) in a report released on Thursday, February 1st. They currently have a $23.00 price objective on the biotechnology company’s stock.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Concert Pharmaceuticals from a hold rating to a sell rating in a research report on Tuesday, January 30th. HC Wainwright reissued a buy rating and set a $21.00 price target on shares of Concert Pharmaceuticals in a research report on Friday, October 20th. Stifel Nicolaus reissued a buy rating and set a $30.00 price target on shares of Concert Pharmaceuticals in a research report on Sunday, October 22nd. TheStreet raised Concert Pharmaceuticals from a d rating to a c+ rating in a research report on Wednesday, November 29th. Finally, ValuEngine cut Concert Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, January 16th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $24.33.

Shares of Concert Pharmaceuticals (NASDAQ:CNCE) opened at $20.09 on Thursday. Concert Pharmaceuticals has a 1 year low of $8.84 and a 1 year high of $30.71.

Concert Pharmaceuticals (NASDAQ:CNCE) last posted its quarterly earnings results on Thursday, November 9th. The biotechnology company reported ($0.70) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.54) by ($0.16). Concert Pharmaceuticals had a net margin of 62.31% and a negative return on equity of 51.48%. analysts forecast that Concert Pharmaceuticals will post 4.1 EPS for the current fiscal year.

In related news, Director Richard Aldrich sold 11,946 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $20.89, for a total value of $249,551.94. Following the transaction, the director now owns 286,975 shares in the company, valued at $5,994,907.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ronald W. Barrett sold 14,156 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $24.70, for a total value of $349,653.20. Following the completion of the transaction, the director now owns 3,539 shares in the company, valued at approximately $87,413.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,433,248 shares of company stock worth $37,226,329. 10.10% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Concert Pharmaceuticals by 11.0% during the second quarter. Vanguard Group Inc. now owns 756,513 shares of the biotechnology company’s stock valued at $10,553,000 after buying an additional 74,801 shares in the last quarter. Northern Trust Corp raised its stake in Concert Pharmaceuticals by 11.2% during the second quarter. Northern Trust Corp now owns 243,989 shares of the biotechnology company’s stock valued at $3,403,000 after buying an additional 24,622 shares in the last quarter. State Street Corp raised its stake in Concert Pharmaceuticals by 9.5% during the second quarter. State Street Corp now owns 300,093 shares of the biotechnology company’s stock valued at $4,186,000 after buying an additional 26,024 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Concert Pharmaceuticals during the third quarter valued at approximately $843,000. Finally, Schwab Charles Investment Management Inc. raised its stake in Concert Pharmaceuticals by 47.9% during the second 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 in the last quarter. Hedge funds and other institutional investors own 67.20% 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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