Concert Pharmaceuticals (CNCE) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Concert Pharmaceuticals (NASDAQ:CNCE) from a hold rating to a buy rating in a research report report published on Tuesday.

Several other research firms have also issued reports on CNCE. ValuEngine lowered shares of Concert Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, October 24th. Zacks Investment Research lowered shares of Concert Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, October 3rd. Janney Montgomery Scott started coverage on shares of Concert Pharmaceuticals in a report on Thursday, September 13th. They issued a neutral rating on the stock. HC Wainwright restated a buy rating on shares of Concert Pharmaceuticals in a report on Friday, August 3rd. Finally, Mizuho restated a buy rating and issued a $27.00 target price on shares of Concert Pharmaceuticals in a report on Thursday, August 2nd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $26.80.

CNCE stock traded down $0.64 during midday trading on Tuesday, hitting $14.02. The stock had a trading volume of 7,037 shares, compared to its average volume of 189,210. The firm has a market cap of $350.05 million, a price-to-earnings ratio of 3.39 and a beta of 1.00. Concert Pharmaceuticals has a 1-year low of $12.33 and a 1-year high of $30.71.

Concert Pharmaceuticals (NASDAQ:CNCE) last released its earnings results on Thursday, November 1st. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.12). The firm had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.02 million. Concert Pharmaceuticals had a net margin of 67.52% and a negative return on equity of 19.73%. Equities analysts anticipate that Concert Pharmaceuticals will post -2.06 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Systematic Financial Management LP raised its holdings in shares of Concert Pharmaceuticals by 9.8% during the second quarter. Systematic Financial Management LP now owns 72,120 shares of the biotechnology company’s stock valued at $1,214,000 after purchasing an additional 6,440 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Concert Pharmaceuticals by 11.3% during the second quarter. Acadian Asset Management LLC now owns 941,282 shares of the biotechnology company’s stock valued at $15,841,000 after purchasing an additional 95,863 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Concert Pharmaceuticals by 22.7% during the second quarter. Renaissance Technologies LLC now owns 606,400 shares of the biotechnology company’s stock valued at $10,206,000 after purchasing an additional 112,200 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Concert Pharmaceuticals by 8.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 95,187 shares of the biotechnology company’s stock valued at $1,602,000 after purchasing an additional 7,500 shares during the period. Finally, Cambria Investment Management L.P. acquired a new position in shares of Concert Pharmaceuticals during the second quarter valued at about $216,000. Hedge funds and other institutional investors own 75.66% of the company’s stock.

Concert Pharmaceuticals Company Profile

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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