Shares of Concert Pharmaceuticals Inc (NASDAQ:CNCE) have received an average recommendation of “Buy” from the nine research firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $27.80.
A number of analysts have weighed in on the company. ValuEngine upgraded Concert Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, June 1st. HC Wainwright increased their price target on Concert Pharmaceuticals from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, May 4th. Zacks Investment Research downgraded Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Mizuho reiterated a “buy” rating and set a $27.00 price target on shares of Concert Pharmaceuticals in a report on Tuesday, April 10th. Finally, TheStreet downgraded Concert Pharmaceuticals from a “b-” rating to a “c” rating in a report on Thursday, March 29th.
Concert Pharmaceuticals traded up $0.82, hitting $18.77, during trading hours on Friday, Marketbeat reports. 25,718 shares of the company were exchanged, compared to its average volume of 139,713. The firm has a market cap of $442.42 million, a P/E ratio of 4.60 and a beta of 1.08. Concert Pharmaceuticals has a one year low of $12.67 and a one year high of $30.71.
Concert Pharmaceuticals (NASDAQ:CNCE) last issued its quarterly earnings results on Thursday, May 3rd. The biotechnology company reported ($0.19) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.58) by $0.39. Concert Pharmaceuticals had a negative return on equity of 23.57% and a net margin of 67.71%. The firm had revenue of $10.48 million during the quarter. equities analysts anticipate that Concert Pharmaceuticals will post -2.21 earnings per share for the current fiscal year.
In other news, insider James V. Cassella sold 10,582 shares of the firm’s stock in a transaction dated Tuesday, April 17th. The stock was sold at an average price of $20.18, for a total value of $213,544.76. Following the completion of the sale, the insider now directly owns 30,000 shares in the company, valued at approximately $605,400. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 9.40% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of CNCE. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Concert Pharmaceuticals in the 4th quarter valued at about $164,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Concert Pharmaceuticals in the 1st quarter valued at about $197,000. MetLife Investment Advisors LLC acquired a new stake in shares of Concert Pharmaceuticals in the 4th quarter valued at about $232,000. Tyers Asset Management LLC acquired a new stake in shares of Concert Pharmaceuticals in the 1st quarter valued at about $236,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Concert Pharmaceuticals in the 1st quarter valued at about $295,000. Institutional investors own 74.35% of the company’s stock.
About Concert Pharmaceuticals
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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