Other analysts have also issued research reports about the company. Zacks Investment Research lowered Concert Pharmaceuticals from a buy rating to a hold rating in a report on Friday, September 15th. HC Wainwright restated a buy rating and set a $21.00 target price on shares of Concert Pharmaceuticals in a report on Friday, October 20th. Stifel Nicolaus restated a buy rating and set a $30.00 target price on shares of Concert Pharmaceuticals in a report on Sunday, October 22nd. Mizuho began coverage on Concert Pharmaceuticals in a report on Thursday, October 26th. They set a buy rating and a $23.00 target price for the company. Finally, UBS Group set a $34.00 target price on Concert Pharmaceuticals and gave the stock a buy rating in a report on Tuesday, December 19th. Two 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 an average target price of $24.83.
Concert Pharmaceuticals (NASDAQ CNCE) traded down $0.35 during trading on Monday, reaching $27.68. The company’s stock had a trading volume of 265,448 shares, compared to its average volume of 314,969. The stock has a market capitalization of $638.32, a price-to-earnings ratio of 7.38 and a beta of 1.67. Concert Pharmaceuticals has a one year low of $8.61 and a one year high of $30.71.
Several institutional investors and hedge funds have recently modified their holdings of CNCE. SG Americas Securities LLC purchased a new stake in shares of Concert Pharmaceuticals during the 3rd quarter valued at $153,000. Alliancebernstein L.P. purchased a new stake in shares of Concert Pharmaceuticals during the 2nd quarter valued at $174,000. State of Wisconsin Investment Board purchased a new stake in shares of Concert Pharmaceuticals during the 2nd quarter valued at $181,000. The Manufacturers Life Insurance Company lifted its holdings in shares of 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 purchasing an additional 287 shares during the last quarter. Finally, Princeton Capital Management Inc. purchased a new stake in shares of Concert Pharmaceuticals during the 3rd quarter valued at $215,000. Hedge funds and other institutional investors own 65.29% of the company’s stock.
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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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