BidaskClub upgraded shares of Concert Pharmaceuticals (NASDAQ:CNCE) from a strong sell rating to a sell rating in a research report report published on Thursday, September 20th.
Several other equities research analysts also recently commented on the stock. ValuEngine downgraded shares of Concert Pharmaceuticals from a buy rating to a hold rating in a research report on Thursday, August 23rd. Janney Montgomery Scott started coverage on shares of Concert Pharmaceuticals in a research report on Thursday, September 13th. They set a neutral rating for the company. Mizuho reissued a buy rating and set a $27.00 target price on shares of Concert Pharmaceuticals in a research report on Thursday, August 2nd. Finally, HC Wainwright reissued a buy rating on shares of Concert Pharmaceuticals in a research report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Concert Pharmaceuticals currently has an average rating of Hold and a consensus target price of $26.80.
CNCE stock traded up $0.45 during midday trading on Thursday, hitting $14.39. The stock had a trading volume of 168,504 shares, compared to its average volume of 238,096. The firm has a market cap of $347.48 million, a price-to-earnings ratio of 3.53 and a beta of 1.01. Concert Pharmaceuticals has a 1-year low of $12.33 and a 1-year high of $30.71.
Concert Pharmaceuticals (NASDAQ:CNCE) last announced its quarterly earnings data on Thursday, August 2nd. The biotechnology company reported ($0.57) earnings per share for the quarter, beating the consensus estimate of ($0.62) by $0.05. Concert Pharmaceuticals had a net margin of 67.52% and a negative return on equity of 19.73%. Equities analysts anticipate that Concert Pharmaceuticals will post -2.06 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of CNCE. Dimensional Fund Advisors LP grew its position in Concert Pharmaceuticals by 122.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 737,646 shares of the biotechnology company’s stock worth $16,892,000 after purchasing an additional 405,592 shares in the last quarter. Matarin Capital Management LLC bought a new position in shares of Concert Pharmaceuticals during the 1st quarter valued at approximately $6,537,000. Millennium Management LLC grew its position in shares of Concert Pharmaceuticals by 52.6% during the 2nd quarter. Millennium Management LLC now owns 659,152 shares of the biotechnology company’s stock valued at $11,094,000 after acquiring an additional 227,269 shares during the period. Northern Trust Corp grew its position in shares of Concert Pharmaceuticals by 45.6% during the 1st quarter. Northern Trust Corp now owns 636,097 shares of the biotechnology company’s stock valued at $14,567,000 after acquiring an additional 199,090 shares during the period. Finally, Spark Investment Management LLC bought a new position in shares of Concert Pharmaceuticals during the 1st quarter valued at approximately $3,311,000. 73.25% of the stock is owned by institutional investors and hedge funds.
Concert Pharmaceuticals Company Profile
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.
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