Zacks Investment Research upgraded shares of Concert Pharmaceuticals (NASDAQ:CNCE) from a sell rating to a hold rating in a research note released on Monday.
According to Zacks, “Concert Pharmaceuticals Inc. is a biopharmaceutical company. It is focused on applying its DCE Platform (R) to create novel small molecule drugs. The Company manufactures drugs in various therapeutic areas such as hot flashes, HIV, renal hepatic, neuropathic pain, MRSA infection, and schizophrenia, multiple tumors, and hyperparathyroidism. Concert Pharmaceuticals Inc. is based in United States. “
Several other analysts have also recently weighed in on the company. BidaskClub cut Concert Pharmaceuticals from a strong-buy rating to a buy rating in a report on Friday, December 22nd. UBS Group set a $34.00 price target on Concert Pharmaceuticals and gave the stock a buy rating in a report on Tuesday, December 19th. Mizuho cut Concert Pharmaceuticals from a buy rating to a neutral rating and set a $23.00 price target for the company. in a report on Friday, January 12th. TheStreet raised Concert Pharmaceuticals from a d rating to a c+ rating in a report on Wednesday, November 29th. Finally, Stifel Nicolaus reissued a buy rating and set a $27.00 price target on shares of Concert Pharmaceuticals in a report on Friday, January 12th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Concert Pharmaceuticals currently has an average rating of Buy and a consensus price target of $24.33.
Concert Pharmaceuticals (NASDAQ:CNCE) last released its quarterly earnings results on Thursday, November 9th. The biotechnology company reported ($0.70) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.54) by ($0.16). Concert Pharmaceuticals had a negative return on equity of 51.48% and a net margin of 62.31%. equities research analysts anticipate that Concert Pharmaceuticals will post 4.1 EPS for the current year.
In other Concert Pharmaceuticals news, Director Richard Aldrich sold 31,236 shares of Concert Pharmaceuticals stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $19.14, for a total value of $597,857.04. Following the completion of the transaction, the director now directly owns 286,975 shares of the company’s stock, valued at approximately $5,492,701.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronald W. Barrett sold 14,156 shares of Concert Pharmaceuticals 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 transaction, the director now directly owns 3,539 shares of the company’s stock, valued at $87,413.30. The disclosure for this sale can be found here. Insiders sold a total of 1,433,248 shares of company stock valued at $37,226,329 over the last ninety days. Insiders own 10.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in CNCE. Schwab Charles Investment Management Inc. raised its holdings in Concert Pharmaceuticals by 47.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 32,122 shares of the biotechnology company’s stock valued at $449,000 after acquiring an additional 10,400 shares in the last quarter. Rhumbline Advisers raised its holdings in Concert Pharmaceuticals by 8.0% in the 2nd 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 in the last quarter. Bank of New York Mellon Corp raised its holdings in Concert Pharmaceuticals by 1.5% in the 2nd 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 in the last quarter. Alliancebernstein L.P. acquired a new position in Concert Pharmaceuticals in the 2nd quarter valued at $174,000. Finally, Teachers Advisors LLC raised its holdings in Concert Pharmaceuticals by 11.1% in the 2nd 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 in the last quarter. 67.20% of the stock is owned by hedge funds and other institutional investors.
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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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