Zacks Investment Research Downgrades Concert Pharmaceuticals, Inc. (CNCE) to Hold
Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
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. “
CNCE has been the subject of a number of other research reports. HC Wainwright initiated coverage on shares of Concert Pharmaceuticals in a research note on Monday, July 24th. They set a “buy” rating and a $20.00 target price for the company. ValuEngine raised shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Aegis reaffirmed a “buy” rating and set a $25.00 target price on shares of Concert Pharmaceuticals in a research note on Monday, June 12th. BidaskClub downgraded shares of Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $30.00 target price (down previously from $31.00) on shares of Concert Pharmaceuticals in a research note on Monday, July 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $24.60.
Shares of Concert Pharmaceuticals (NASDAQ:CNCE) traded down 2.70% during mid-day trading on Friday, reaching $14.04. The company’s stock had a trading volume of 121,475 shares. The company’s market cap is $318.53 million. Concert Pharmaceuticals has a 12 month low of $7.11 and a 12 month high of $19.11. The company has a 50-day moving average of $14.62 and a 200-day moving average of $14.98.
Concert Pharmaceuticals (NASDAQ:CNCE) last announced its earnings results on Tuesday, August 8th. The biotechnology company reported ($0.58) earnings per share 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 business had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.20 million. Equities research analysts forecast that Concert Pharmaceuticals will post ($2.18) earnings per share for the current fiscal year.
In related news, insider Ryan Lynch sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $14.51, for a total transaction of $50,785.00. Following the completion of the sale, the insider now owns 9,500 shares of the company’s stock, valued at $137,845. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 15.30% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in CNCE. Citadel Advisors LLC bought a new stake in shares of Concert Pharmaceuticals during the second quarter valued at approximately $6,634,000. Driehaus Capital Management LLC bought a new stake in shares of Concert Pharmaceuticals during the first quarter valued at approximately $7,353,000. Lyon Street Capital LLC increased its position in shares of Concert Pharmaceuticals by 405.5% during the second quarter. Lyon Street Capital LLC now owns 434,752 shares of the biotechnology company’s stock valued at $6,065,000 after acquiring an additional 348,741 shares in the last quarter. QS Investors LLC bought a new stake in shares of Concert Pharmaceuticals during the second quarter valued at approximately $1,294,000. Finally, Vanguard Group Inc. increased its position in shares of Concert Pharmaceuticals by 11.0% during the second quarter. Vanguard Group Inc. now owns 756,513 shares of the biotechnology company’s stock valued at $10,553,000 after acquiring an additional 74,801 shares in the last quarter. 61.62% of the stock is owned by institutional investors.
Concert Pharmaceuticals Company Profile
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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