Concert Pharmaceuticals (CNCE) – Research Analysts’ Recent Ratings Updates

Concert Pharmaceuticals (NASDAQ: CNCE) recently received a number of ratings updates from brokerages and research firms:

  • 3/6/2019 – Concert Pharmaceuticals was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 3/5/2019 – Concert Pharmaceuticals was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. 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. “
  • 3/1/2019 – Concert Pharmaceuticals was downgraded by analysts at TheStreet from a “c-” rating to a “d” rating.
  • 3/1/2019 – Concert Pharmaceuticals had its “buy” rating reaffirmed by analysts at HC Wainwright. They wrote, “Our price target of $26/share is comprised of $16.38 from CTP-543 in AA + $3.04 from AVP-786 in AD agitation + $6.38 in cash and is based on a discounted cash flow analysis (2019-2026) using a 12% discount rate and 1% growth rate, in line with the expected discount and growth parameters of a development stage biotechnology company. Risks to our investment thesis and target price include: (1) failure in clinical studies; (2) failure to secure regulatory approval; and (3) smaller than anticipated commercial opportunity due to market size, competition, and pricing.””

Shares of CNCE opened at $16.18 on Friday. The stock has a market capitalization of $380.70 million, a price-to-earnings ratio of -6.74 and a beta of 1.03. Concert Pharmaceuticals Inc has a 52 week low of $10.80 and a 52 week high of $24.19.

Concert Pharmaceuticals (NASDAQ:CNCE) last issued its quarterly earnings results on Thursday, February 28th. The biotechnology company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.15). Concert Pharmaceuticals had a negative return on equity of 29.33% and a negative net margin of 533.31%. As a group, sell-side analysts expect that Concert Pharmaceuticals Inc will post -3.32 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. grew its position in shares of Concert Pharmaceuticals by 51.0% during the third quarter. Russell Investments Group Ltd. now owns 117,499 shares of the biotechnology company’s stock worth $1,749,000 after purchasing an additional 39,692 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Concert Pharmaceuticals by 18.2% during the third quarter. Wells Fargo & Company MN now owns 86,243 shares of the biotechnology company’s stock worth $1,279,000 after purchasing an additional 13,304 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its position in shares of Concert Pharmaceuticals by 204.5% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 54,530 shares of the biotechnology company’s stock worth $809,000 after purchasing an additional 36,620 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Concert Pharmaceuticals by 23.0% during the third quarter. JPMorgan Chase & Co. now owns 186,831 shares of the biotechnology company’s stock worth $2,773,000 after purchasing an additional 34,920 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Concert Pharmaceuticals by 5.8% during the third quarter. Bank of New York Mellon Corp now owns 180,780 shares of the biotechnology company’s stock worth $2,682,000 after purchasing an additional 9,932 shares in the last quarter. Institutional investors and hedge funds own 75.73% of the company’s stock.

Concert Pharmaceuticals, Inc operates as a clinical stage biopharmaceutical company. The company discovers and develops novel small molecule drugs for use in the treatment of various pulmonary diseases, including autoimmune and inflammatory diseases, and central nervous systems disorders. Its product candidates include AVP-786, a combination of deudextromethorphan and an ultra-low dose of quinidine, which is in Phase 3 clinical trials for the treatment of neurologic and psychiatric disorders, including agitation associated with Alzheimer's disease; CTP-730, a deuterated analog of apremilast that has completed the Phase 1 clinical trials for the treatment of inflammation or cancer; JZP-386, which has completed the Phase 1 clinical trials for the treatment of patients with narcolepsy; and CTP-543, which is in Phase 1 clinical trials for use in the treatment of alopecia areata.

Further Reading: Buy-Side Analysts

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