Zacks Investment Research lowered shares of Concert Pharmaceuticals (NASDAQ:CNCE) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

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. “

Other equities analysts also recently issued reports about the company. BidaskClub downgraded Concert Pharmaceuticals from a hold rating to a sell rating in a report on Tuesday, July 17th. ValuEngine downgraded Concert Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, October 24th. Janney Montgomery Scott began coverage on 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 price objective on shares of Concert Pharmaceuticals in a report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $26.80.

NASDAQ CNCE traded down $0.04 during trading hours on Wednesday, hitting $16.06. 450,684 shares of the company’s stock were exchanged, compared to its average volume of 247,088. Concert Pharmaceuticals has a 12-month low of $12.33 and a 12-month high of $30.71. The company has a market capitalization of $370.89 million, a PE ratio of 3.94 and a beta of 0.89.

Concert Pharmaceuticals (NASDAQ:CNCE) last released its earnings results on Thursday, November 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.62) by ($0.12). Concert Pharmaceuticals had a negative return on equity of 20.81% and a negative net margin of 392.62%. The business had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.02 million. Sell-side analysts predict that Concert Pharmaceuticals will post -2.25 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Concert Pharmaceuticals by 2.4% during the 3rd quarter. BlackRock Inc. now owns 1,677,409 shares of the biotechnology company’s stock valued at $24,893,000 after buying an additional 39,950 shares during the period. Ingalls & Snyder LLC raised its holdings in shares of Concert Pharmaceuticals by 0.4% during the 3rd quarter. Ingalls & Snyder LLC now owns 1,342,975 shares of the biotechnology company’s stock valued at $19,930,000 after buying an additional 5,113 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Concert Pharmaceuticals by 27.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 943,442 shares of the biotechnology company’s stock valued at $15,879,000 after buying an additional 205,796 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Concert Pharmaceuticals by 11.3% during the 2nd quarter. Acadian Asset Management LLC now owns 941,282 shares of the biotechnology company’s stock valued at $15,841,000 after buying an additional 95,863 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Concert Pharmaceuticals by 5.9% during the 2nd quarter. Northern Trust Corp now owns 673,466 shares of the biotechnology company’s stock valued at $11,335,000 after buying an additional 37,369 shares during the period. Institutional investors and hedge funds own 75.88% 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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