Equities analysts predict that Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) will announce earnings of ($0.54) per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Concert Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.58) and the highest estimate coming in at ($0.49). Concert Pharmaceuticals posted earnings of ($0.51) per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 5.9%. The firm is expected to issue its next quarterly earnings report on Tuesday, November 14th.
According to Zacks, analysts expect that Concert Pharmaceuticals will report full year earnings of ($2.04) per share for the current fiscal year. For the next year, analysts anticipate that the business will post earnings of ($2.12) per share, with EPS estimates ranging from ($2.48) to ($1.75). Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Concert Pharmaceuticals.
Concert Pharmaceuticals (NASDAQ:CNCE) last posted its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.58) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.62) by $0.04. The business had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.20 million. Concert Pharmaceuticals had a negative return on equity of 61.98% and a negative net margin of 60,681.70%.
CNCE has been the subject of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of Concert Pharmaceuticals in a report on Wednesday, August 9th. Zacks Investment Research raised Concert Pharmaceuticals from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a report on Tuesday, August 29th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $30.00 target price (down previously from $31.00) on shares of Concert Pharmaceuticals in a report on Monday, July 10th. Aegis reiterated a “buy” rating and issued a $25.00 price target on shares of Concert Pharmaceuticals in a research report on Monday, June 12th. Finally, ValuEngine upgraded Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $24.60.
Concert Pharmaceuticals (CNCE) traded up 2.13% during trading on Wednesday, reaching $15.31. The company had a trading volume of 40,596 shares. The firm’s market capitalization is $347.34 million. Concert Pharmaceuticals has a 12-month low of $7.11 and a 12-month high of $19.11. The firm’s 50 day moving average price is $14.79 and its 200 day moving average price is $14.82.
In related news, insider Ryan Lynch sold 3,500 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $14.51, for a total transaction of $50,785.00. Following the sale, the insider now owns 9,500 shares in the company, valued at approximately $137,845. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 10.10% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new stake in shares of Concert Pharmaceuticals during the 1st quarter valued at about $138,000. American International Group Inc. boosted its position in shares of Concert Pharmaceuticals by 7.1% during the 1st quarter. American International Group Inc. now owns 10,156 shares of the biotechnology company’s stock valued at $173,000 after purchasing an additional 677 shares in the last quarter. Alliancebernstein L.P. bought a new stake in shares of Concert Pharmaceuticals during the 2nd quarter valued at about $174,000. State of Wisconsin Investment Board bought a new stake in shares of Concert Pharmaceuticals during the 2nd quarter valued at about $181,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Concert Pharmaceuticals by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,052 shares of the biotechnology company’s stock valued at $210,000 after purchasing an additional 287 shares in the last quarter. Institutional investors own 61.62% 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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