Concert Pharmaceuticals (NASDAQ:CNCE) Downgraded to Hold at ValuEngine

ValuEngine lowered shares of Concert Pharmaceuticals (NASDAQ:CNCE) from a buy rating to a hold rating in a report issued on Thursday morning, ValuEngine reports.

A number of other equities analysts also recently issued reports on CNCE. Janney Montgomery Scott set a $16.00 price target on Concert Pharmaceuticals and gave the stock a buy rating in a research note on Wednesday, September 4th. SunTrust Banks assumed coverage on Concert Pharmaceuticals in a report on Monday, June 24th. They issued a buy rating and a $30.00 target price on the stock. Zacks Investment Research raised Concert Pharmaceuticals from a hold rating to a buy rating and set a $11.00 target price on the stock in a report on Wednesday, August 7th. Mizuho raised their target price on Concert Pharmaceuticals from $23.00 to $29.00 and gave the stock a buy rating in a report on Wednesday, September 4th. Finally, HC Wainwright reaffirmed a buy rating and issued a $29.00 target price on shares of Concert Pharmaceuticals in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of Buy and an average price target of $20.75.

Shares of CNCE stock traded up $0.26 on Thursday, reaching $10.74. The stock had a trading volume of 11,038 shares, compared to its average volume of 113,991. The stock has a market cap of $261.56 million, a P/E ratio of -4.37 and a beta of 0.82. Concert Pharmaceuticals has a 1 year low of $9.21 and a 1 year high of $17.83. The company has a debt-to-equity ratio of 0.12, a quick ratio of 19.63 and a current ratio of 19.63. The company has a 50 day simple moving average of $10.45 and a 200 day simple moving average of $11.62.

Concert Pharmaceuticals (NASDAQ:CNCE) last released its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.78) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.92) by $0.14. The firm had revenue of $0.05 million for the quarter, compared to the consensus estimate of $0.30 million. Concert Pharmaceuticals had a negative return on equity of 49.44% and a negative net margin of 7,303.34%. On average, equities research analysts anticipate that Concert Pharmaceuticals will post -3.45 earnings per share for the current fiscal year.

In related news, Director Peter Barton Hutt sold 3,539 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $10.31, for a total value of $36,487.09. Following the transaction, the director now directly owns 7,963 shares of the company’s stock, valued at approximately $82,098.53. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 11.00% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of CNCE. Bank of America Corp DE raised its holdings in Concert Pharmaceuticals by 22.5% during the fourth quarter. Bank of America Corp DE now owns 40,819 shares of the biotechnology company’s stock valued at $512,000 after acquiring an additional 7,491 shares during the period. Dimensional Fund Advisors LP raised its holdings in Concert Pharmaceuticals by 5.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,129,166 shares of the biotechnology company’s stock valued at $14,171,000 after acquiring an additional 59,671 shares during the period. BNP Paribas Arbitrage SA raised its holdings in Concert Pharmaceuticals by 63,200.0% during the first quarter. BNP Paribas Arbitrage SA now owns 4,431 shares of the biotechnology company’s stock valued at $53,000 after acquiring an additional 4,424 shares during the period. California Public Employees Retirement System raised its holdings in Concert Pharmaceuticals by 67.0% during the first quarter. California Public Employees Retirement System now owns 149,079 shares of the biotechnology company’s stock valued at $1,799,000 after acquiring an additional 59,800 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in Concert Pharmaceuticals by 21.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 9,000 shares of the biotechnology company’s stock valued at $143,000 after acquiring an additional 1,600 shares during the period. 70.74% of the stock is currently owned by institutional investors and hedge funds.

About Concert Pharmaceuticals

Concert Pharmaceuticals, Inc operates as a clinical stage biopharmaceutical company. The company discovers and develops novel small molecule drugs for use in the treatment 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, a once-nightly oxybate product; and CTP-543, which is in Phase 1 clinical trials for use in the treatment of alopecia areata.

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Analyst Recommendations for Concert Pharmaceuticals (NASDAQ:CNCE)

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