Zacks Investment Research cut shares of Concert Pharmaceuticals Inc. (NASDAQ:CNCE) from a hold rating to a sell rating in a research report report published on Tuesday.
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. “
A number of other brokerages have also recently weighed in on CNCE. Stifel Nicolaus reiterated a buy rating and set a $23.00 price target on shares of Concert Pharmaceuticals in a research report on Tuesday, September 27th. Brean Capital reiterated a buy rating and set a $25.00 price target on shares of Concert Pharmaceuticals in a research report on Wednesday, September 7th. Two research analysts have rated the stock with a sell rating and five have issued a buy rating to the company. Concert Pharmaceuticals currently has an average rating of Hold and a consensus price target of $25.50.
Shares of Concert Pharmaceuticals (NASDAQ:CNCE) opened at 8.90 on Tuesday. The stock’s market capitalization is $197.82 million. Concert Pharmaceuticals has a 52-week low of $8.83 and a 52-week high of $25.04. The firm’s 50-day moving average price is $9.97 and its 200-day moving average price is $11.72.
Concert Pharmaceuticals (NASDAQ:CNCE) last released its earnings results on Tuesday, August 9th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.03. Concert Pharmaceuticals had a negative return on equity of 29.09% and a negative net margin of 289.85%. Equities analysts forecast that Concert Pharmaceuticals will post ($2.51) earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of CNCE. American International Group Inc. boosted its stake in Concert Pharmaceuticals by 5.4% in the second quarter. American International Group Inc. now owns 9,490 shares of the company’s stock valued at $107,000 after buying an additional 483 shares in the last quarter. Rhumbline Advisers boosted its stake in Concert Pharmaceuticals by 16.3% in the second quarter. Rhumbline Advisers now owns 17,248 shares of the company’s stock valued at $194,000 after buying an additional 2,414 shares in the last quarter. Algert Global LLC acquired a new stake in Concert Pharmaceuticals during the third quarter valued at approximately $202,000. ProShare Advisors LLC boosted its stake in Concert Pharmaceuticals by 1.8% in the second quarter. ProShare Advisors LLC now owns 18,558 shares of the company’s stock valued at $208,000 after buying an additional 326 shares in the last quarter. Finally, Teachers Advisors Inc. boosted its stake in Concert Pharmaceuticals by 10.6% in the second quarter. Teachers Advisors Inc. now owns 24,624 shares of the company’s stock valued at $277,000 after buying an additional 2,356 shares in the last quarter. Hedge funds and other institutional investors own 61.59% 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 segment. It has clinical candidates under development, including AVP-786, CTP-656, CTP-730 and JZP-386.