Concert Pharmaceuticals (CNCE) Hits New 12-Month Low at $12.33

Concert Pharmaceuticals Inc (NASDAQ:CNCE)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $12.33 and last traded at $12.56, with a volume of 2291 shares trading hands. The stock had previously closed at $12.63.

A number of equities analysts have recently commented on the stock. Janney Montgomery Scott assumed coverage on shares of Concert Pharmaceuticals in a research report on Thursday. They issued a “neutral” rating on the stock. ValuEngine lowered shares of Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, August 23rd. BidaskClub lowered shares of Concert Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 22nd. HC Wainwright reissued a “buy” rating on shares of Concert Pharmaceuticals in a research report on Friday, August 3rd. Finally, Mizuho reissued a “buy” rating and issued a $27.00 price target on shares of Concert Pharmaceuticals in a research report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $26.80.

The stock has a market capitalization of $329.45 million, a PE ratio of 3.16 and a beta of 1.00.

Concert Pharmaceuticals (NASDAQ:CNCE) last announced its earnings results on Thursday, August 2nd. The biotechnology company reported ($0.57) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.62) by $0.05. Concert Pharmaceuticals had a net margin of 67.52% and a negative return on equity of 19.73%. analysts forecast that Concert Pharmaceuticals Inc will post -2.08 EPS for the current year.

In related news, COO Nancy Stuart sold 31,418 shares of the business’s stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $17.87, for a total transaction of $561,439.66. Following the transaction, the chief operating officer now owns 116,085 shares of the company’s stock, valued at $2,074,438.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.40% of the company’s stock.

A number of hedge funds have recently made changes to their positions in CNCE. BlackRock Inc. increased its holdings in Concert Pharmaceuticals by 2.7% in the 2nd quarter. BlackRock Inc. now owns 1,637,459 shares of the biotechnology company’s stock valued at $27,559,000 after buying an additional 42,347 shares during the period. Ingalls & Snyder LLC increased its holdings in Concert Pharmaceuticals by 1.2% in the 2nd quarter. Ingalls & Snyder LLC now owns 1,337,862 shares of the biotechnology company’s stock valued at $22,516,000 after buying an additional 15,800 shares during the period. Dimensional Fund Advisors LP increased its holdings in Concert Pharmaceuticals by 27.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 943,442 shares of the biotechnology company’s stock valued at $15,879,000 after buying an additional 205,796 shares during the period. Acadian Asset Management LLC increased its holdings in Concert Pharmaceuticals by 11.3% in the 2nd quarter. Acadian Asset Management LLC now owns 941,282 shares of the biotechnology company’s stock valued at $15,841,000 after buying an additional 95,863 shares during the period. Finally, Millennium Management LLC increased its holdings in Concert Pharmaceuticals by 52.6% in the 2nd quarter. Millennium Management LLC now owns 659,152 shares of the biotechnology company’s stock valued at $11,094,000 after buying an additional 227,269 shares during the period. 73.26% of the stock is currently owned by institutional investors and hedge funds.

About Concert Pharmaceuticals (NASDAQ:CNCE)

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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