Concert Pharmaceuticals (CNCE) Given a $19.00 Price Target at UBS Group

UBS Group set a $19.00 price target on Concert Pharmaceuticals (NASDAQ:CNCE) in a research report sent to investors on Tuesday morning, www.stocktargetadvisor.com reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

Other equities analysts also recently issued reports about the stock. ValuEngine raised shares of Concert Pharmaceuticals from a hold rating to a buy rating in a research note on Monday, July 30th. BidaskClub downgraded shares of Concert Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, July 17th. HC Wainwright reaffirmed a buy rating on shares of Concert Pharmaceuticals in a research note on Friday, August 3rd. Finally, Zacks Investment Research downgraded shares of Concert Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $23.80.

Shares of NASDAQ CNCE traded down $0.73 during trading on Tuesday, reaching $11.07. The company had a trading volume of 50,340 shares, compared to its average volume of 292,087. Concert Pharmaceuticals has a 52 week low of $11.74 and a 52 week high of $30.71. The company has a market cap of $294.98 million, a PE ratio of 2.71 and a beta of 0.89.

Concert Pharmaceuticals (NASDAQ:CNCE) last announced its earnings results on Thursday, November 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.62) by ($0.12). Concert Pharmaceuticals had a negative return on equity of 20.81% and a negative net margin of 392.62%. The company had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.02 million. As a group, research analysts expect that Concert Pharmaceuticals will post -2.25 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. raised its stake in shares of Concert Pharmaceuticals by 679.4% during the second quarter. Meeder Asset Management Inc. now owns 6,305 shares of the biotechnology company’s stock worth $106,000 after buying an additional 5,496 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Concert Pharmaceuticals during the second quarter valued at approximately $178,000. Cambria Investment Management L.P. acquired a new position in Concert Pharmaceuticals during the second quarter valued at approximately $216,000. Capital Fund Management S.A. acquired a new position in Concert Pharmaceuticals during the second quarter valued at approximately $244,000. Finally, Hartford Investment Management Co. acquired a new position in Concert Pharmaceuticals during the second quarter valued at approximately $259,000. 75.70% of the stock is owned by institutional investors and hedge funds.

About Concert Pharmaceuticals

Concert Pharmaceuticals, Inc operates as a clinical stage biopharmaceutical company. The company discovers and develops novel small molecule drugs for use in the treatment of various pulmonary diseases, including autoimmune and inflammatory diseases, and central nervous systems disorders. Its product candidates include AVP-786, a combination of deudextromethorphan and an ultra-low dose of quinidine, which is in Phase 3 clinical trials for the treatment of neurologic and psychiatric disorders, including agitation associated with Alzheimer's disease; CTP-730, a deuterated analog of apremilast that has completed the Phase 1 clinical trials for the treatment of inflammation or cancer; JZP-386, which has completed the Phase 1 clinical trials for the treatment of patients with narcolepsy; and CTP-543, which is in Phase 1 clinical trials for use in the treatment of alopecia areata.

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Analyst Recommendations for Concert Pharmaceuticals (NASDAQ:CNCE)

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