Concert Pharmaceuticals (NASDAQ:CNCE) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Concert Pharmaceuticals (NASDAQ:CNCEGet Rating) from a hold rating to a sell rating in a research report report published on Tuesday, Zacks.com reports.

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. “

Several other research analysts have also weighed in on CNCE. HC Wainwright reaffirmed a buy rating and set a $17.00 target price on shares of Concert Pharmaceuticals in a research note on Friday, March 4th. StockNews.com initiated coverage on shares of Concert Pharmaceuticals in a research report on Friday, May 6th. They set a hold rating on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Buy and a consensus target price of $9.81.

Shares of CNCE stock opened at $3.95 on Tuesday. The company has a 50-day moving average of $3.29 and a two-hundred day moving average of $3.30. Concert Pharmaceuticals has a 1-year low of $2.57 and a 1-year high of $4.62.

Concert Pharmaceuticals (NASDAQ:CNCEGet Rating) last announced its earnings results on Thursday, May 5th. The biotechnology company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.93) by ($0.10). Concert Pharmaceuticals had a negative return on equity of 89.48% and a negative net margin of 245.72%. During the same quarter in the previous year, the business posted ($0.67) EPS. Equities research analysts anticipate that Concert Pharmaceuticals will post -3.58 earnings per share for the current fiscal year.

In other news, CEO Roger D. Tung sold 13,480 shares of the stock in a transaction dated Tuesday, February 15th. The shares were sold at an average price of $3.09, for a total transaction of $41,653.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 23,291 shares of company stock worth $71,909 in the last three months. Corporate insiders own 11.00% of the company’s stock.

A number of large investors have recently modified their holdings of CNCE. Morgan Stanley raised its holdings in Concert Pharmaceuticals by 653.1% in the second quarter. Morgan Stanley now owns 335,238 shares of the biotechnology company’s stock valued at $1,414,000 after acquiring an additional 290,722 shares in the last quarter. BlackRock Inc. raised its holdings in Concert Pharmaceuticals by 7.5% in the third quarter. BlackRock Inc. now owns 719,973 shares of the biotechnology company’s stock valued at $2,355,000 after acquiring an additional 49,938 shares in the last quarter. IndexIQ Advisors LLC raised its holdings in Concert Pharmaceuticals by 11.1% in the third quarter. IndexIQ Advisors LLC now owns 90,100 shares of the biotechnology company’s stock valued at $295,000 after acquiring an additional 9,025 shares in the last quarter. Geode Capital Management LLC raised its holdings in Concert Pharmaceuticals by 7.2% in the third quarter. Geode Capital Management LLC now owns 343,700 shares of the biotechnology company’s stock valued at $1,123,000 after acquiring an additional 23,078 shares in the last quarter. Finally, GSA Capital Partners LLP raised its holdings in Concert Pharmaceuticals by 35.2% in the third quarter. GSA Capital Partners LLP now owns 379,244 shares of the biotechnology company’s stock valued at $1,240,000 after acquiring an additional 98,635 shares in the last quarter. 51.26% of the stock is currently owned by hedge funds and other institutional investors.

Concert Pharmaceuticals Company Profile (Get Rating)

Concert Pharmaceuticals, Inc operates as a clinical stage biopharmaceutical company that develops novel small molecule drugs for the treatment of autoimmune diseases. The company's lead product candidate is CTP-543, which is in Phase III clinical trial for the treatment of alopecia areata, a serious autoimmune dermatological condition.

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