Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) posted its earnings results on Tuesday. The biotechnology company reported ($0.58) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.62) by $0.04, Bloomberg Earnings reports. Concert Pharmaceuticals had a negative return on equity of 55.30% and a negative net margin of 36,357.25%. The firm had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.20 million.
Shares of Concert Pharmaceuticals (CNCE) traded up 0.35% on Wednesday, hitting $14.27. The stock had a trading volume of 87,156 shares. Concert Pharmaceuticals has a 52 week low of $7.11 and a 52 week high of $19.11. The company’s market cap is $321.96 million. The stock’s 50-day moving average price is $14.14 and its 200 day moving average price is $13.70.
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Several equities research analysts recently weighed in on CNCE shares. Stifel Nicolaus restated a “buy” rating and issued a $30.00 target price (down from $31.00) on shares of Concert Pharmaceuticals in a report on Monday, July 10th. BidaskClub lowered Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, August 4th. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Concert Pharmaceuticals in a report on Wednesday. ValuEngine upgraded Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, June 23rd. Finally, Aegis restated a “buy” rating and issued a $25.00 target price on shares of Concert Pharmaceuticals in a report on Monday, June 12th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $25.17.
A number of institutional investors have recently made changes to their positions in CNCE. Airain ltd bought a new position in shares of Concert Pharmaceuticals during the second quarter valued at $215,000. Marshall Wace North America L.P. bought a new position in shares of Concert Pharmaceuticals during the second quarter valued at $378,000. Bank of New York Mellon Corp boosted its position in shares of Concert Pharmaceuticals by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 125,996 shares of the biotechnology company’s stock valued at $1,757,000 after buying an additional 1,852 shares in the last quarter. Alps Advisors Inc. boosted its position in shares of Concert Pharmaceuticals by 6.3% in the second quarter. Alps Advisors Inc. now owns 20,362 shares of the biotechnology company’s stock valued at $284,000 after buying an additional 1,200 shares in the last quarter. Finally, State of Wisconsin Investment Board bought a new position in shares of Concert Pharmaceuticals during the second quarter valued at $181,000. 62.80% of the stock is owned by hedge funds and other institutional investors.
Concert Pharmaceuticals Company Profile
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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