BidaskClub Downgrades Concert Pharmaceuticals (CNCE) to Buy

Concert Pharmaceuticals (NASDAQ:CNCE) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

CNCE has been the topic of a number of other reports. Zacks Investment Research upgraded Concert Pharmaceuticals from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Tuesday, August 29th. ValuEngine upgraded Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of Concert Pharmaceuticals in a research report on Monday, September 18th. Stifel Nicolaus restated a “buy” rating and set a $30.00 price objective on shares of Concert Pharmaceuticals in a research report on Sunday, October 22nd. Finally, Mizuho assumed coverage on Concert Pharmaceuticals in a research report on Thursday, October 26th. They set a “buy” rating and a $23.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $24.83.

Concert Pharmaceuticals (NASDAQ:CNCE) opened at $25.60 on Friday. The company has a market capitalization of $585.26, a P/E ratio of 6.88 and a beta of 1.67. Concert Pharmaceuticals has a 1 year low of $8.61 and a 1 year high of $30.71.

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, with a total value of $5,257,549.44. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronald W. Barrett sold 14,156 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $24.70, for a total value of $349,653.20. Following the completion of the sale, the director now directly owns 3,539 shares in the company, valued at approximately $87,413.30. The disclosure for this sale can be found here. 10.10% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in CNCE. Citadel Advisors LLC acquired a new stake in Concert Pharmaceuticals in the 2nd quarter valued at $6,634,000. Lyon Street Capital LLC boosted its stake in Concert Pharmaceuticals by 405.5% in the second quarter. Lyon Street Capital LLC now owns 434,752 shares of the biotechnology company’s stock worth $6,065,000 after purchasing an additional 348,741 shares in the last quarter. Senvest Management LLC boosted its stake in Concert Pharmaceuticals by 458.8% in the third quarter. Senvest Management LLC now owns 314,629 shares of the biotechnology company’s stock worth $4,641,000 after purchasing an additional 258,329 shares in the last quarter. Ingalls & Snyder LLC boosted its stake in Concert Pharmaceuticals by 14.5% in the third quarter. Ingalls & Snyder LLC now owns 1,209,062 shares of the biotechnology company’s stock worth $17,834,000 after purchasing an additional 153,062 shares in the last quarter. Finally, QS Investors LLC acquired a new position in Concert Pharmaceuticals in the second quarter worth $1,294,000. 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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