Shares of Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) have been given an average recommendation of “Hold” by the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $24.75.
Several analysts recently issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Concert Pharmaceuticals in a research note on Wednesday, August 9th. Stifel Nicolaus reissued a “buy” rating and issued a $30.00 target price on shares of Concert Pharmaceuticals in a research note on Sunday, October 22nd. Zacks Investment Research raised Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Mizuho assumed coverage on Concert Pharmaceuticals in a research note on Thursday. They issued a “buy” rating and a $23.00 target price on the stock. Finally, BidaskClub cut Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, August 4th.
In other news, insider Value Fund L. P. Biotechnology acquired 331,916 shares of the business’s stock in a transaction on Thursday, October 19th. The shares were acquired at an average cost of $15.84 per share, with a total value of $5,257,549.44. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ryan Lynch sold 3,500 shares of Concert Pharmaceuticals stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $14.51, for a total value of $50,785.00. Following the sale, the insider now directly owns 9,500 shares in the company, valued at $137,845. The disclosure for this sale can be found here. 10.10% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the business. American International Group Inc. boosted its position in Concert Pharmaceuticals by 7.1% during the 1st 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 in the last quarter. Alliancebernstein L.P. bought a new stake in Concert Pharmaceuticals during the 2nd quarter valued at approximately $174,000. State of Wisconsin Investment Board bought a new stake in Concert Pharmaceuticals during the 2nd quarter valued at approximately $181,000. The Manufacturers Life Insurance Company boosted its position 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 valued at $210,000 after acquiring an additional 287 shares in the last quarter. Finally, Airain ltd bought a new stake in Concert Pharmaceuticals during the 2nd quarter valued at approximately $215,000. 61.50% of the stock is currently owned by institutional investors and hedge funds.
Concert Pharmaceuticals (CNCE) traded up 2.52% during midday trading on Thursday, hitting $16.65. The company’s stock had a trading volume of 140,599 shares. Concert Pharmaceuticals has a 52-week low of $7.11 and a 52-week high of $19.11. The company’s market cap is $377.74 million. The stock has a 50 day moving average of $15.13 and a 200 day moving average of $14.67.
Concert Pharmaceuticals (NASDAQ:CNCE) last posted its earnings results 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. The company had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.20 million. Concert Pharmaceuticals had a negative return on equity of 61.98% and a negative net margin of 60,681.70%. On average, equities analysts expect 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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