Zacks Investment Research lowered shares of Concert Pharmaceuticals (NASDAQ:CNCE) from a buy rating to a hold rating in a report released on Monday, Zacks.com reports.
According to Zacks, “Concert Pharmaceuticals Inc. is a biopharmaceutical company. It is focused on applying its DCE Platform (R) to create novel small molecule drugs. The Company manufactures drugs in various therapeutic areas such as hot flashes, HIV, renal hepatic, neuropathic pain, MRSA infection, and schizophrenia, multiple tumors, and hyperparathyroidism. Concert Pharmaceuticals Inc. is based in United States. “
A number of other equities research analysts also recently weighed in on CNCE. Janney Montgomery Scott reaffirmed a buy rating and set a $10.00 price objective (down previously from $13.00) on shares of Concert Pharmaceuticals in a research report on Monday, September 30th. SunTrust Banks dropped their price objective on Concert Pharmaceuticals from $30.00 to $20.00 and set a buy rating on the stock in a research report on Monday, September 30th. BidaskClub downgraded Concert Pharmaceuticals from a hold rating to a sell rating in a research report on Saturday, September 28th. HC Wainwright dropped their price objective on Concert Pharmaceuticals from $29.00 to $25.00 and set a buy rating on the stock in a research report on Thursday, October 3rd. Finally, Mizuho reaffirmed a buy rating and set a $18.00 price objective on shares of Concert Pharmaceuticals in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $15.22.
CNCE stock traded down $0.04 during trading on Monday, reaching $6.81. 123,797 shares of the company traded hands, compared to its average volume of 222,808. Concert Pharmaceuticals has a 12 month low of $5.36 and a 12 month high of $17.83. The business has a 50 day simple moving average of $6.27 and a 200 day simple moving average of $9.62. The company has a market capitalization of $159.97 million, a price-to-earnings ratio of -2.85 and a beta of 0.88. The company has a debt-to-equity ratio of 0.14, a quick ratio of 9.53 and a current ratio of 9.53.
Concert Pharmaceuticals (NASDAQ:CNCE) last issued its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.13. Concert Pharmaceuticals had a negative return on equity of 55.06% and a negative net margin of 7,291.37%. The company had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.35 million. As a group, research analysts forecast that Concert Pharmaceuticals will post -3.21 EPS for the current year.
In other Concert Pharmaceuticals news, Director Heek Christi Van purchased 5,000 shares of the stock in a transaction on Tuesday, October 8th. The stock was acquired at an average price of $5.90 per share, with a total value of $29,500.00. Following the completion of the acquisition, the director now owns 5,000 shares in the company, valued at $29,500. The acquisition was disclosed in a filing with the SEC, which is available at this link. 11.00% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CNCE. Ingalls & Snyder LLC boosted its holdings in Concert Pharmaceuticals by 15.3% in the second quarter. Ingalls & Snyder LLC now owns 1,359,375 shares of the biotechnology company’s stock worth $16,313,000 after acquiring an additional 180,400 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Concert Pharmaceuticals by 8.4% during the second quarter. Steward Partners Investment Advisory LLC now owns 66,142 shares of the biotechnology company’s stock worth $793,000 after purchasing an additional 5,107 shares during the period. Aperio Group LLC acquired a new stake in shares of Concert Pharmaceuticals during the second quarter worth about $43,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of Concert Pharmaceuticals by 64.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 14,800 shares of the biotechnology company’s stock worth $174,000 after purchasing an additional 5,800 shares during the period. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Concert Pharmaceuticals during the second quarter worth about $128,000. 71.29% of the stock is owned by institutional investors and hedge funds.
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 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, a once-nightly oxybate product; and CTP-543, which is in Phase 1 clinical trials for use in the treatment of alopecia areata.
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