Brokerages Set Concert Pharmaceuticals Inc (CNCE) Price Target at $24.75
Shares of Concert Pharmaceuticals Inc (NASDAQ:CNCE) have earned a consensus recommendation of “Buy” from the nine brokerages that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $26.60.
CNCE has been the topic of several research analyst reports. Zacks Investment Research upgraded Concert Pharmaceuticals from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Tuesday, August 29th. HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective on shares of Concert Pharmaceuticals in a report on Friday, November 10th. Mizuho initiated coverage on Concert Pharmaceuticals in a report on Thursday, October 26th. They issued a “buy” rating and a $23.00 price objective on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $30.00 price objective on shares of Concert Pharmaceuticals in a report on Sunday, October 22nd. Finally, UBS set a $34.00 price objective on Concert Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday.
Concert Pharmaceuticals (CNCE) traded down $1.71 during mid-day trading on Friday, reaching $27.34. The company had a trading volume of 823,060 shares, compared to its average volume of 260,558. Concert Pharmaceuticals has a 12 month low of $8.51 and a 12 month high of $30.71.
Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Concert Pharmaceuticals during the 3rd quarter worth approximately $153,000. Alliancebernstein L.P. acquired a new position in shares of Concert Pharmaceuticals during the 2nd quarter worth approximately $174,000. State of Wisconsin Investment Board acquired a new position in shares of Concert Pharmaceuticals during the 2nd quarter worth approximately $181,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Concert Pharmaceuticals by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,052 shares of the biotechnology company’s stock worth $210,000 after purchasing an additional 287 shares during the last quarter. Finally, Airain ltd acquired a new position in shares of Concert Pharmaceuticals during the 2nd quarter worth approximately $215,000. Institutional investors and hedge funds own 65.29% of the company’s stock.
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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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