Zacks Investment Research downgraded shares of Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) from a buy rating to a hold rating in a report released on Friday morning.
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 analysts also recently commented on the stock. ValuEngine raised shares of Concert Pharmaceuticals from a sell rating to a hold rating in a research report on Friday, September 1st. HC Wainwright reissued a buy rating and set a $20.00 price objective on shares of Concert Pharmaceuticals in a research report on Wednesday, August 9th. BidaskClub downgraded shares of Concert Pharmaceuticals from a hold rating to a sell rating in a research report on Friday, August 4th. Stifel Nicolaus reissued a buy rating and set a $30.00 price objective (down from $31.00) on shares of Concert Pharmaceuticals in a research report on Monday, July 10th. Finally, Aegis reissued a buy rating and set a $25.00 price objective on shares of Concert Pharmaceuticals in a research report on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Concert Pharmaceuticals currently has an average rating of Hold and a consensus target price of $24.80.
Concert Pharmaceuticals (CNCE) traded down 1.02% on Friday, hitting $14.58. 130,695 shares of the company were exchanged. The company has a 50 day moving average price of $14.61 and a 200-day moving average price of $14.82. The stock’s market capitalization is $330.78 million. Concert Pharmaceuticals has a 52 week low of $7.11 and a 52 week high of $19.11.
Concert Pharmaceuticals (NASDAQ:CNCE) last released its earnings results on Tuesday, August 8th. The biotechnology company reported ($0.58) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.62) by $0.04. The firm had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.20 million. Concert Pharmaceuticals had a negative net margin of 60,681.70% and a negative return on equity of 61.98%. On average, equities analysts expect that Concert Pharmaceuticals will post ($2.18) earnings per share for the current fiscal year.
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Large investors have recently modified their holdings of the company. Alps Advisors Inc. lifted its stake in shares of Concert Pharmaceuticals by 6.3% in the 2nd quarter. Alps Advisors Inc. now owns 20,362 shares of the biotechnology company’s stock worth $284,000 after purchasing an additional 1,200 shares during the period. Prudential Financial Inc. lifted its stake in shares of Concert Pharmaceuticals by 26.2% in the 1st quarter. Prudential Financial Inc. now owns 253,130 shares of the biotechnology company’s stock worth $4,319,000 after purchasing an additional 52,500 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Concert Pharmaceuticals by 27.5% in the 1st quarter. JPMorgan Chase & Co. now owns 52,783 shares of the biotechnology company’s stock worth $900,000 after purchasing an additional 11,392 shares during the period. Paulson & CO. Inc. bought a new position in shares of Concert Pharmaceuticals in the 1st quarter worth approximately $1,198,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Concert Pharmaceuticals by 143.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 32,349 shares of the biotechnology company’s stock worth $552,000 after purchasing an additional 19,046 shares during the period. Hedge funds and other institutional investors own 62.37% of the company’s stock.
About Concert Pharmaceuticals
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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