Concert Pharmaceuticals (CNCE) Upgraded to Strong-Buy at BidaskClub

Concert Pharmaceuticals (NASDAQ:CNCE) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Concert Pharmaceuticals from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Tuesday, August 29th. HC Wainwright reissued a “buy” rating and set a $21.00 price objective on shares of Concert Pharmaceuticals in a research report on Friday, November 10th. Mizuho started coverage on shares of Concert Pharmaceuticals in a research report on Thursday, October 26th. They set a “buy” rating and a $23.00 price objective on the stock. Stifel Nicolaus reissued a “buy” rating and set a $30.00 price objective on shares of Concert Pharmaceuticals in a research report on Sunday, October 22nd. Finally, TheStreet raised shares of Concert Pharmaceuticals from a “d” rating to a “c+” rating in a research report on Wednesday, November 29th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $23.00.

Concert Pharmaceuticals (NASDAQ:CNCE) opened at $24.90 on Friday. Concert Pharmaceuticals has a 52-week low of $7.11 and a 52-week high of $26.37.

In other news, insider Ryan Lynch sold 3,500 shares of Concert Pharmaceuticals stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $14.51, for a total value of $50,785.00. Following the sale, the insider now owns 9,500 shares of the company’s stock, valued at $137,845. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronald W. Barrett sold 14,156 shares of Concert Pharmaceuticals stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $24.70, for a total transaction of $349,653.20. Following the completion of the sale, the director now directly owns 3,539 shares in the company, valued at approximately $87,413.30. The disclosure for this sale can be found here. 10.10% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Concert Pharmaceuticals by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 15,052 shares of the biotechnology company’s stock valued at $210,000 after acquiring an additional 287 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Concert Pharmaceuticals by 0.6% in the first quarter. Geode Capital Management LLC now owns 142,740 shares of the biotechnology company’s stock valued at $2,435,000 after acquiring an additional 838 shares in the last quarter. Alps Advisors Inc. boosted its holdings in shares of Concert Pharmaceuticals by 6.3% in the second quarter. Alps Advisors Inc. now owns 20,362 shares of the biotechnology company’s stock valued at $284,000 after acquiring an additional 1,200 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Concert Pharmaceuticals by 8.0% in the second quarter. Rhumbline Advisers now owns 20,253 shares of the biotechnology company’s stock valued at $283,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Concert Pharmaceuticals by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 125,996 shares of the biotechnology company’s stock valued at $1,757,000 after acquiring an additional 1,852 shares in the last quarter. 65.36% of the stock is currently owned by institutional investors and hedge funds.

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Concert Pharmaceuticals Company Profile

Concert Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery and development of small molecule drugs. The Company operates through the development of pharmaceutical products on its own behalf or in collaboration with others. The Company’s deuterated chemical entity platform (DCE Platform), has potential across various therapeutic areas.

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