Mizuho restated their buy rating on shares of Concert Pharmaceuticals (NASDAQ:CNCE) in a report published on Monday morning, AnalystRatings.com reports. They currently have a $18.00 target price on the biotechnology company’s stock.
Several other research analysts have also recently weighed in on CNCE. Zacks Investment Research upgraded Concert Pharmaceuticals from a hold rating to a buy rating and set a $12.00 price target for the company in a research note on Tuesday, August 11th. BidaskClub cut Concert Pharmaceuticals from a hold rating to a sell rating in a research report on Saturday, August 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $18.43.
CNCE stock opened at $10.57 on Monday. Concert Pharmaceuticals has a 1-year low of $5.36 and a 1-year high of $13.09. The business has a fifty day moving average price of $9.68 and a 200-day moving average price of $9.51. The stock has a market capitalization of $313.70 million, a P/E ratio of -3.93 and a beta of 0.85.
Concert Pharmaceuticals (NASDAQ:CNCE) last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.41) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.69) by $0.28. Concert Pharmaceuticals had a negative return on equity of 54.80% and a negative net margin of 1,108.62%. The firm had revenue of $6.39 million during the quarter, compared to analysts’ expectations of $0.01 million. Analysts expect that Concert Pharmaceuticals will post -2.65 EPS for the current year.
In other Concert Pharmaceuticals news, COO Nancy Stuart sold 10,295 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $11.34, for a total transaction of $116,745.30. Following the completion of the sale, the chief operating officer now owns 167,924 shares of the company’s stock, valued at $1,904,258.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. RA Capital Management L.P. bought a new stake in Concert Pharmaceuticals during the first quarter valued at about $16,429,000. BlackRock Inc. grew its holdings in Concert Pharmaceuticals by 16.4% during the first quarter. BlackRock Inc. now owns 1,753,460 shares of the biotechnology company’s stock valued at $15,500,000 after purchasing an additional 246,806 shares during the period. Sphera Funds Management LTD. grew its holdings in Concert Pharmaceuticals by 623.6% during the first quarter. Sphera Funds Management LTD. now owns 1,013,039 shares of the biotechnology company’s stock valued at $8,955,000 after purchasing an additional 873,039 shares during the period. Alyeska Investment Group L.P. grew its holdings in Concert Pharmaceuticals by 11.3% during the second quarter. Alyeska Investment Group L.P. now owns 502,783 shares of the biotechnology company’s stock valued at $5,003,000 after purchasing an additional 50,883 shares during the period. Finally, State Street Corp grew its holdings in Concert Pharmaceuticals by 14.9% during the first quarter. State Street Corp now owns 469,020 shares of the biotechnology company’s stock valued at $4,146,000 after purchasing an additional 60,764 shares during the period. 72.43% of the stock is owned by institutional investors and hedge funds.
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.
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