Peter Barton Hutt Sells 3,539 Shares of Concert Pharmaceuticals Inc (NASDAQ:CNCE) Stock
Concert Pharmaceuticals Inc (NASDAQ:CNCE) Director Peter Barton Hutt sold 3,539 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $10.31, for a total value of $36,487.09. Following the sale, the director now owns 7,963 shares in the company, valued at approximately $82,098.53. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of CNCE traded up $0.04 during trading hours on Monday, hitting $10.30. 88,700 shares of the company were exchanged, compared to its average volume of 225,002. The stock has a market capitalization of $246.09 million, a P/E ratio of -4.29 and a beta of 0.85. Concert Pharmaceuticals Inc has a fifty-two week low of $9.21 and a fifty-two week high of $17.83. The company has a current ratio of 19.63, a quick ratio of 20.44 and a debt-to-equity ratio of 0.12. The business’s fifty day simple moving average is $11.11.
Concert Pharmaceuticals (NASDAQ:CNCE) last released its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.78) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.14. The business had revenue of $0.05 million for the quarter, compared to analyst estimates of $0.30 million. Concert Pharmaceuticals had a negative return on equity of 49.44% and a negative net margin of 7,303.34%. Analysts expect that Concert Pharmaceuticals Inc will post -3.45 EPS for the current fiscal year.
CNCE has been the topic of a number of analyst reports. HC Wainwright reiterated a “buy” rating and set a $29.00 price objective on shares of Concert Pharmaceuticals in a research note on Friday, August 2nd. BidaskClub cut Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. Mizuho set a $23.00 price target on Concert Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, August 2nd. Janney Montgomery Scott upgraded Concert Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price target for the company from $14.00 to $16.00 in a research note on Thursday, June 13th. Finally, Zacks Investment Research upgraded Concert Pharmaceuticals from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $20.00.
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 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.
Further Reading: Outstanding Shares and The Effect on Share Price
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