Concert Pharmaceuticals (NASDAQ:CNCE) was downgraded by equities research analysts at Mizuho from a “buy” rating to a “neutral” rating in a note issued to investors on Friday. They presently have a $23.00 price target on the biotechnology company’s stock. Mizuho’s target price indicates a potential upside of 14.14% from the stock’s previous close.
CNCE has been the topic of a number of other research reports. Zacks Investment Research downgraded Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. BidaskClub upgraded Concert Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 9th. UBS Group set a $34.00 price target on Concert Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, December 19th. TheStreet upgraded Concert Pharmaceuticals from a “c+” rating to a “b-” rating in a research note on Monday, January 8th. Finally, HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Concert Pharmaceuticals in a research note on Monday, September 18th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $24.33.
Concert Pharmaceuticals (CNCE) opened at $20.15 on Friday. The stock has a market capitalization of $458.87, a P/E ratio of 5.37 and a beta of 1.67. Concert Pharmaceuticals has a 12 month low of $8.61 and a 12 month high of $30.71.
In other Concert Pharmaceuticals news, Director Ronald W. Barrett sold 14,156 shares of Concert Pharmaceuticals stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $24.70, for a total value of $349,653.20. Following the transaction, the director now directly owns 3,539 shares in the company, valued at approximately $87,413.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Value Fund L. P. Biotechnology bought 331,916 shares of the stock in a transaction on Thursday, October 19th. The stock was bought at an average price of $15.84 per share, for a total transaction of $5,257,549.44. The disclosure for this purchase can be found here. Company insiders own 10.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of CNCE. SG Americas Securities LLC purchased a new stake in shares of Concert Pharmaceuticals in the third quarter valued at approximately $153,000. Alliancebernstein L.P. purchased a new stake in shares of Concert Pharmaceuticals in the second quarter valued at approximately $174,000. State of Wisconsin Investment Board purchased a new stake in shares of Concert Pharmaceuticals in the second quarter valued at approximately $181,000. The Manufacturers Life Insurance Company boosted its stake 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 buying an additional 287 shares in the last quarter. Finally, Princeton Capital Management Inc. purchased a new stake in shares of Concert Pharmaceuticals in the third quarter valued at approximately $215,000. Hedge funds and other institutional investors own 65.29% of the company’s stock.
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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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