Concert Pharmaceuticals (CNCE) Shares Down 27.2%

Concert Pharmaceuticals Inc (NASDAQ:CNCE) shares dropped 27.2% during mid-day trading on Friday . The stock traded as low as $18.81 and last traded at $20.15. Approximately 3,408,205 shares traded hands during mid-day trading, an increase of 416% from the average daily volume of 659,867 shares. The stock had previously closed at $27.68.

A number of research analysts have recently weighed in on 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 issued a $20.00 target price on shares of Concert Pharmaceuticals in a report on Monday, September 18th. Stifel Nicolaus restated a “buy” rating and issued a $30.00 target price on shares of Concert Pharmaceuticals in a report on Sunday, October 22nd. Finally, Mizuho assumed coverage on Concert Pharmaceuticals in a report on Thursday, October 26th. They issued a “buy” rating and a $23.00 target price on the stock. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $24.83.

The company has a market capitalization of $458.85, a price-to-earnings ratio of 5.37 and a beta of 1.67.

In other Concert Pharmaceuticals 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 stock was bought at an average cost of $15.84 per share, with a total value of $5,257,549.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Value Fund L. P. Biotechnology sold 1,282,856 shares of the stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $26.65, for a total value of $34,188,112.40. The disclosure for this sale can be found here. 10.10% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its position in shares of Concert Pharmaceuticals by 1.9% during the second 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 during the last quarter. Rhumbline Advisers increased its position in shares of Concert Pharmaceuticals by 8.0% during the second quarter. Rhumbline Advisers now owns 20,253 shares of the biotechnology company’s stock valued at $283,000 after acquiring an additional 1,500 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Concert Pharmaceuticals by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 125,996 shares of the biotechnology company’s stock valued at $1,757,000 after acquiring an additional 1,852 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Concert Pharmaceuticals by 11.1% during the second quarter. Teachers Advisors LLC now owns 34,373 shares of the biotechnology company’s stock valued at $480,000 after acquiring an additional 3,446 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Concert Pharmaceuticals by 3.0% during the third quarter. Principal Financial Group Inc. now owns 118,600 shares of the biotechnology company’s stock valued at $1,749,000 after acquiring an additional 3,500 shares during the last quarter. 65.29% of the stock is owned by institutional investors.

WARNING: This piece of content was first reported by Community Financial News and is the sole property of of Community Financial News. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of international trademark and copyright laws. The legal version of this piece of content can be accessed at https://www.com-unik.info/2018/01/12/concert-pharmaceuticals-cnce-shares-down-27-2.html.

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.

What are top analysts saying about Concert Pharmaceuticals? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Concert Pharmaceuticals and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit