Mizuho restated their hold rating on shares of Concert Pharmaceuticals (NASDAQ:CNCE) in a research note issued to investors on Tuesday. Mizuho currently has a $23.00 price objective on the biotechnology company’s stock.
Other research analysts have also issued reports about the company. Zacks Investment Research lowered Concert Pharmaceuticals from a hold rating to a sell rating in a report on Tuesday, January 30th. HC Wainwright reissued a buy rating and set a $21.00 target price on shares of Concert Pharmaceuticals in a report on Friday, October 20th. Stifel Nicolaus reaffirmed a buy rating and issued a $30.00 price objective on shares of Concert Pharmaceuticals in a report on Sunday, October 22nd. ValuEngine raised Concert Pharmaceuticals from a sell rating to a hold rating in a report on Friday, February 2nd. Finally, BidaskClub raised Concert Pharmaceuticals from a hold rating to a buy rating in a report on Friday, February 9th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of Buy and an average target price of $24.33.
Shares of Concert Pharmaceuticals (NASDAQ:CNCE) opened at $21.48 on Tuesday. The company has a market capitalization of $489.84, a P/E ratio of 5.77 and a beta of 1.23. Concert Pharmaceuticals has a one year low of $9.04 and a one year high of $30.71.
In other Concert Pharmaceuticals news, Director Ronald W. Barrett sold 14,156 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $87,413.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Value Fund L. P. Biotechnology sold 1,282,856 shares of the company’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $26.65, for a total value of $34,188,112.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,433,248 shares of company stock worth $37,226,329. Insiders own 10.10% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Metropolitan Life Insurance Co. NY bought a new stake in shares of Concert Pharmaceuticals during the 4th quarter valued at $164,000. MetLife Investment Advisors LLC bought a new stake in shares of Concert Pharmaceuticals during the 4th quarter valued at $232,000. SG Americas Securities LLC bought a new stake in shares of Concert Pharmaceuticals during the 3rd quarter valued at $153,000. Alliancebernstein L.P. bought a new stake in shares of Concert Pharmaceuticals during the 2nd quarter valued at $174,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in shares of Concert Pharmaceuticals during the 4th quarter valued at $329,000. 67.44% of the stock is currently owned by hedge funds and other institutional investors.
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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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