Concert Pharmaceuticals (NASDAQ:CNCE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
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 equities research analysts have also issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $25.00 price target (up from $21.00) on shares of Concert Pharmaceuticals in a research note on Friday, March 2nd. Mizuho reiterated a “hold” rating and issued a $23.00 price target on shares of Concert Pharmaceuticals in a research note on Thursday, March 1st. BidaskClub upgraded shares of Concert Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. ValuEngine upgraded shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $27.00 price target on shares of Concert Pharmaceuticals in a research note on Friday, January 12th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Concert Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $25.67.
Concert Pharmaceuticals (NASDAQ:CNCE) last issued its quarterly earnings results on Thursday, March 1st. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.08). Concert Pharmaceuticals had a net margin of 66.47% and a negative return on equity of 36.25%. The business had revenue of $0.01 million during the quarter, compared to analyst estimates of $8.11 million. equities research analysts expect that Concert Pharmaceuticals will post -2.35 EPS for the current year.
In other news, insider Value Fund L. P. Biotechnology sold 1,282,856 shares of the business’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $26.65, for a total transaction of $34,188,112.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard Aldrich sold 5,000 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $20.46, for a total transaction of $102,300.00. Following the transaction, the director now owns 286,975 shares in the company, valued at $5,871,508.50. The disclosure for this sale can be found here. Insiders have sold a total of 1,419,092 shares of company stock worth $36,876,675 over the last 90 days. 10.10% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Concert Pharmaceuticals by 57.2% during the 4th quarter. BlackRock Inc. now owns 1,786,223 shares of the biotechnology company’s stock worth $46,210,000 after purchasing an additional 649,808 shares during the last quarter. Ingalls & Snyder LLC grew its stake in Concert Pharmaceuticals by 8.7% in the 4th quarter. Ingalls & Snyder LLC now owns 1,314,562 shares of the biotechnology company’s stock valued at $34,008,000 after buying an additional 105,500 shares during the last quarter. Vanguard Group Inc. grew its stake in Concert Pharmaceuticals by 11.0% in the 2nd quarter. Vanguard Group Inc. now owns 756,513 shares of the biotechnology company’s stock valued at $10,553,000 after buying an additional 74,801 shares during the last quarter. Millennium Management LLC grew its stake in Concert Pharmaceuticals by 225.8% in the 4th quarter. Millennium Management LLC now owns 725,885 shares of the biotechnology company’s stock valued at $18,779,000 after buying an additional 503,066 shares during the last quarter. Finally, Lyon Street Capital LLC grew its stake in Concert Pharmaceuticals by 6.5% in the 3rd quarter. Lyon Street Capital LLC now owns 463,064 shares of the biotechnology company’s stock valued at $6,830,000 after buying an additional 28,312 shares during the last quarter. Institutional investors own 71.74% of the company’s stock.
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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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