SunTrust Banks initiated coverage on shares of Concert Pharmaceuticals (NASDAQ:CNCE) in a research note issued to investors on Monday, Benzinga reports. The brokerage issued a buy rating and a $30.00 price target on the biotechnology company’s stock. SunTrust Banks also issued estimates for Concert Pharmaceuticals’ Q2 2019 earnings at ($0.87) EPS, Q3 2019 earnings at ($0.87) EPS, Q4 2019 earnings at ($0.86) EPS, FY2019 earnings at ($3.53) EPS, FY2020 earnings at ($3.25) EPS, FY2021 earnings at ($1.83) EPS and FY2022 earnings at ($1.08) EPS.
CNCE has been the subject of a number of other research reports. Zacks Investment Research raised shares of Concert Pharmaceuticals from a strong sell rating to a hold rating in a research report on Wednesday, May 1st. TheStreet cut shares of Concert Pharmaceuticals from a c- rating to a d rating in a research report on Friday, March 1st. HC Wainwright reaffirmed a buy rating on shares of Concert Pharmaceuticals in a research note on Friday, March 1st. Mizuho reaffirmed a buy rating on shares of Concert Pharmaceuticals in a research note on Friday, May 3rd. Finally, BidaskClub downgraded Concert Pharmaceuticals from a strong-buy rating to a buy rating in a research note on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $21.29.
Shares of Concert Pharmaceuticals stock opened at $11.44 on Monday. The company has a 50-day simple moving average of $10.82. The company has a market capitalization of $273.94 million, a PE ratio of -4.77 and a beta of 0.85. Concert Pharmaceuticals has a 52-week low of $9.21 and a 52-week high of $18.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 20.44 and a current ratio of 20.44.
Concert Pharmaceuticals (NASDAQ:CNCE) last announced its earnings results on Thursday, May 2nd. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.62) by ($0.31). The business had revenue of $1.01 million during the quarter, compared to the consensus estimate of $16.08 million. Concert Pharmaceuticals had a negative net margin of 7,118.04% and a negative return on equity of 41.72%. Equities analysts anticipate that Concert Pharmaceuticals will post -3.86 EPS for the current year.
In related news, major shareholder Bvf Partners L. P/Il sold 386,289 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $10.70, for a total value of $4,133,292.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 9.40% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of CNCE. Perceptive Advisors LLC acquired a new position in Concert Pharmaceuticals in the fourth quarter valued at about $22,823,000. RTW Investments LP acquired a new position in Concert Pharmaceuticals during the fourth quarter worth about $9,900,000. Millennium Management LLC raised its stake in Concert Pharmaceuticals by 87.2% during the fourth quarter. Millennium Management LLC now owns 1,011,753 shares of the biotechnology company’s stock worth $12,698,000 after acquiring an additional 471,312 shares in the last quarter. California Public Employees Retirement System raised its stake 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 worth $1,799,000 after acquiring an additional 59,800 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake 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 worth $14,171,000 after acquiring an additional 59,671 shares in the last quarter. 74.60% 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 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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