Concert Pharmaceuticals’ (CNCE) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) in a research note issued to investors on Friday morning. They currently have a $21.00 target price on the biotechnology company’s stock.

A number of other research firms have also recently issued reports on CNCE. Zacks Investment Research cut shares of Concert Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, October 24th. Mizuho assumed coverage on shares of Concert Pharmaceuticals in a research note on Thursday, October 26th. They issued a buy rating and a $23.00 target price for the company. Stifel Nicolaus reiterated a buy rating and issued a $30.00 target price on shares of Concert Pharmaceuticals in a research note on Sunday, October 22nd. ValuEngine upgraded shares of Concert Pharmaceuticals from a sell rating to a hold rating in a research note on Friday, September 1st. Finally, BidaskClub cut shares of Concert Pharmaceuticals from a hold rating to a sell rating in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $23.00.

Concert Pharmaceuticals (NASDAQ CNCE) traded up $1.04 during midday trading on Friday, reaching $18.57. 503,400 shares of the company’s stock were exchanged, compared to its average volume of 234,817. Concert Pharmaceuticals has a 1 year low of $7.11 and a 1 year high of $19.11.

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In other news, insider Ryan Lynch sold 3,500 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $14.51, for a total value of $50,785.00. Following the completion of the sale, the insider now directly owns 9,500 shares in the company, valued at $137,845. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Value Fund L. P. Biotechnology acquired 331,916 shares of Concert Pharmaceuticals stock in a transaction dated Thursday, October 19th. The stock was purchased at an average price of $15.84 per share, with a total value of $5,257,549.44. The disclosure for this purchase can be found here. 10.10% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the company. Lyon Street Capital LLC lifted its stake in shares of Concert Pharmaceuticals by 6.5% in the third quarter. Lyon Street Capital LLC now owns 463,064 shares of the biotechnology company’s stock worth $6,830,000 after buying an additional 28,312 shares during the last quarter. Senvest Management LLC lifted its stake in shares of Concert Pharmaceuticals by 458.8% in the third quarter. Senvest Management LLC now owns 314,629 shares of the biotechnology company’s stock worth $4,641,000 after buying an additional 258,329 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Concert Pharmaceuticals in the third quarter worth $153,000. Princeton Capital Management Inc. acquired a new stake in shares of Concert Pharmaceuticals in the third quarter worth $215,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Concert Pharmaceuticals by 3.0% in the third quarter. Principal Financial Group Inc. now owns 118,600 shares of the biotechnology company’s stock worth $1,749,000 after buying an additional 3,500 shares during the last quarter. Institutional investors and hedge funds own 62.51% of the company’s stock.

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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