Concert Pharmaceuticals, Inc. (CNCE) Receives $26.40 Consensus PT from Analysts
Shares of Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) have received a consensus recommendation of “Buy” from the eight research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $26.40.
CNCE has been the topic of several research analyst reports. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Concert Pharmaceuticals in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. BidaskClub lowered shares of Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. ValuEngine raised shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. Finally, Aegis reissued a “buy” rating and set a $25.00 target price on shares of Concert Pharmaceuticals in a research note on Monday, June 12th.
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Shares of Concert Pharmaceuticals (NASDAQ CNCE) traded down 0.14% during midday trading on Friday, hitting $14.55. 42,533 shares of the company were exchanged. The firm’s market capitalization is $330.10 million. The firm’s 50 day moving average price is $14.27 and its 200 day moving average price is $14.00. Concert Pharmaceuticals has a one year low of $7.11 and a one year high of $19.11.
Concert Pharmaceuticals (NASDAQ:CNCE) last posted its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.58) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.62) by $0.04. Concert Pharmaceuticals had a negative net margin of 60,681.70% and a negative return on equity of 61.98%. The company had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.20 million. Analysts forecast that Concert Pharmaceuticals will post ($2.48) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of CNCE. Quantbot Technologies LP bought a new position in shares of Concert Pharmaceuticals during the first quarter valued at about $138,000. Hillsdale Investment Management Inc. bought a new position in shares of Concert Pharmaceuticals during the first quarter valued at about $143,000. Highbridge Capital Management LLC raised its position in shares of Concert Pharmaceuticals by 46.4% in the fourth quarter. Highbridge Capital Management LLC now owns 15,677 shares of the biotechnology company’s stock valued at $161,000 after buying an additional 4,967 shares in the last quarter. American International Group Inc. raised its position in shares of Concert Pharmaceuticals by 7.1% in the first quarter. American International Group Inc. now owns 10,156 shares of the biotechnology company’s stock valued at $173,000 after buying an additional 677 shares in the last quarter. Finally, Alliancebernstein L.P. bought a new position in shares of Concert Pharmaceuticals during the second quarter valued at about $174,000. 61.95% of the stock is currently owned by institutional investors and hedge funds.
About Concert Pharmaceuticals
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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