Constellation Pharmaceuticals (NASDAQ:CNST) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Constellation Pharmaceuticals (NASDAQ:CNST) from a sell rating to a buy rating in a research note published on Wednesday morning, Zacks.com reports. They currently have $8.75 target price on the stock.

According to Zacks, “Constellation Pharmaceuticals, Inc. operates as a bio-pharmaceutical company. It discovers and develops molecule therapeutics for the treatment of cancer, inflammatory and immunologic disorders. The company’s lead product candidates consists of CPI-1205, which inhibits enhancer of zeste homolog 2 and CPI-0610, which inhibits bromodomain and extra terminal domain. Constellation Pharmaceuticals, Inc. is based in Cambridge, United States. “

A number of other research analysts have also recently weighed in on the company. Royal Bank of Canada began coverage on Constellation Pharmaceuticals in a research report on Wednesday, September 4th. They set an outperform rating and a $20.00 price objective on the stock. ValuEngine cut Constellation Pharmaceuticals from a buy rating to a hold rating in a report on Monday, September 30th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $16.35.

CNST stock opened at $8.71 on Wednesday. Constellation Pharmaceuticals has a twelve month low of $4.01 and a twelve month high of $14.04. The company has a quick ratio of 5.85, a current ratio of 5.85 and a debt-to-equity ratio of 0.44. The business’s 50-day moving average price is $7.42 and its 200-day moving average price is $9.75.

Constellation Pharmaceuticals (NASDAQ:CNST) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.80) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.80). On average, analysts expect that Constellation Pharmaceuticals will post -2.95 EPS for the current fiscal year.

In other Constellation Pharmaceuticals news, Director Anthony B. Evnin purchased 2,823,529 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were bought at an average cost of $8.50 per share, with a total value of $23,999,996.50. Also, major shareholder Group L. P. Column purchased 1,411,764 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was acquired at an average cost of $8.50 per share, for a total transaction of $11,999,994.00. 43.70% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CNST. Rhumbline Advisers purchased a new position in Constellation Pharmaceuticals in the 1st quarter worth approximately $221,000. P.A.W. Capital Corp purchased a new position in Constellation Pharmaceuticals in the 2nd quarter worth approximately $1,474,000. Wells Fargo & Company MN lifted its holdings in Constellation Pharmaceuticals by 42.1% in the 2nd quarter. Wells Fargo & Company MN now owns 13,937 shares of the company’s stock worth $171,000 after purchasing an additional 4,132 shares in the last quarter. Alps Advisors Inc. purchased a new stake in shares of Constellation Pharmaceuticals during the 2nd quarter worth approximately $663,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Constellation Pharmaceuticals during the 2nd quarter worth approximately $61,000. 65.71% of the stock is currently owned by institutional investors.

Constellation Pharmaceuticals Company Profile

Constellation Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing therapeutics that address serious unmet medical needs in patients with cancers associated with abnormal gene expression or drug resistance. The company's lead product candidates include CPI-0610 that is in Phase II clinical trials for the treatment of patients with myelofibrosis in combination with ruxolitinib; and CPI-1205 that is in Phase Ib/II clinical trials for the treatment of metastatic castration-resistant prostate cancer in combination with androgen receptor signaling inhibitors.

Further Reading: Outstanding Shares and The Effect on Share Price

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