Concert Pharmaceuticals Inc (NASDAQ:CNCE) Given Consensus Recommendation of “Buy” by Analysts

Concert Pharmaceuticals Inc (NASDAQ:CNCE) has been assigned a consensus recommendation of “Buy” from the eleven brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $21.29.

A number of equities research analysts recently weighed in on CNCE shares. HC Wainwright restated a “buy” rating on shares of Concert Pharmaceuticals in a research note on Friday, March 1st. TheStreet cut shares of Concert Pharmaceuticals from a “c-” rating to a “d” rating in a research note on Friday, March 1st. Zacks Investment Research cut shares of Concert Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 5th. BidaskClub upgraded shares of Concert Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 6th. Finally, Stifel Nicolaus cut their price objective on shares of Concert Pharmaceuticals from $27.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, April 9th.

In related news, major shareholder Bvf Partners L. P/Il sold 386,289 shares of Concert Pharmaceuticals stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $10.70, for a total transaction of $4,133,292.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.40% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in CNCE. Bank of New York Mellon Corp lifted its position in shares of Concert Pharmaceuticals by 5.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 180,780 shares of the biotechnology company’s stock worth $2,682,000 after purchasing an additional 9,932 shares during the period. JPMorgan Chase & Co. increased its stake in Concert Pharmaceuticals by 23.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 186,831 shares of the biotechnology company’s stock valued at $2,773,000 after purchasing an additional 34,920 shares in the last quarter. Morgan Stanley increased its stake in Concert Pharmaceuticals by 29.7% during the 3rd quarter. Morgan Stanley now owns 106,304 shares of the biotechnology company’s stock valued at $1,577,000 after purchasing an additional 24,361 shares in the last quarter. Vanguard Group Inc. increased its stake in Concert Pharmaceuticals by 8.1% during the 3rd quarter. Vanguard Group Inc. now owns 1,225,849 shares of the biotechnology company’s stock valued at $18,192,000 after purchasing an additional 91,659 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Concert Pharmaceuticals by 42.4% during the 4th quarter. Rhumbline Advisers now owns 31,261 shares of the biotechnology company’s stock valued at $392,000 after purchasing an additional 9,313 shares in the last quarter. 74.60% of the stock is currently owned by hedge funds and other institutional investors.

CNCE stock traded up $0.06 during mid-day trading on Tuesday, reaching $11.46. The company had a trading volume of 10,262 shares, compared to its average volume of 271,352. Concert Pharmaceuticals has a one year low of $9.21 and a one year high of $19.86. The business has a 50-day moving average price of $10.81. The company has a quick ratio of 20.44, a current ratio of 20.44 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $259.62 million, a PE ratio of -4.77 and a beta of 0.85.

Concert Pharmaceuticals (NASDAQ:CNCE) last issued its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported ($0.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.31). Concert Pharmaceuticals had a negative net margin of 7,118.04% and a negative return on equity of 41.72%. The company had revenue of $1.01 million for the quarter, compared to the consensus estimate of $16.08 million. As a group, research analysts predict that Concert Pharmaceuticals will post -3.86 earnings per share for the current fiscal year.

Concert Pharmaceuticals Company Profile

Concert Pharmaceuticals, Inc operates as a clinical stage biopharmaceutical company. The company discovers and develops novel small molecule drugs for use in the treatment 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, a once-nightly oxybate product; 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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