Concert Pharmaceuticals Inc (NASDAQ:CNCE) Receives Average Recommendation of “Buy” from Brokerages

Shares of Concert Pharmaceuticals Inc (NASDAQ:CNCE) have received an average rating of “Buy” from the eleven brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $16.13.

A number of analysts recently weighed in on the company. Mizuho restated a “buy” rating and issued a $18.00 target price (down previously from $29.00) on shares of Concert Pharmaceuticals in a research report on Monday. Zacks Investment Research upgraded Concert Pharmaceuticals from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Wednesday, August 7th. BidaskClub downgraded Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday. Janney Montgomery Scott restated a “buy” rating and issued a $10.00 target price (down previously from $13.00) on shares of Concert Pharmaceuticals in a research report on Monday. Finally, ValuEngine downgraded Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th.

In related news, Director Peter Barton Hutt sold 3,539 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $10.31, for a total value of $36,487.09. Following the completion of the sale, the director now owns 7,963 shares in the company, valued at approximately $82,098.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 11.00% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Quantamental Technologies LLC bought a new stake in Concert Pharmaceuticals in the second quarter valued at approximately $27,000. Aperio Group LLC bought a new stake in Concert Pharmaceuticals in the second quarter valued at approximately $43,000. BNP Paribas Arbitrage SA lifted its position in Concert Pharmaceuticals by 63,200.0% in the first quarter. BNP Paribas Arbitrage SA now owns 4,431 shares of the biotechnology company’s stock valued at $53,000 after purchasing an additional 4,424 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new stake in Concert Pharmaceuticals in the second quarter valued at approximately $128,000. Finally, Parametric Portfolio Associates LLC lifted its position in Concert Pharmaceuticals by 10.6% in the second quarter. Parametric Portfolio Associates LLC now owns 11,349 shares of the biotechnology company’s stock valued at $136,000 after purchasing an additional 1,089 shares during the last quarter. Hedge funds and other institutional investors own 70.74% of the company’s stock.

Shares of NASDAQ CNCE traded down $0.17 during midday trading on Thursday, hitting $5.71. 534,311 shares of the company’s stock were exchanged, compared to its average volume of 228,645. Concert Pharmaceuticals has a 12-month low of $5.36 and a 12-month high of $17.83. The company has a current ratio of 19.63, a quick ratio of 19.63 and a debt-to-equity ratio of 0.12. The company has a market cap of $148.75 million, a price-to-earnings ratio of -2.38 and a beta of 0.82. The business’s fifty day moving average price is $10.20 and its two-hundred day moving average price is $11.09.

Concert Pharmaceuticals (NASDAQ:CNCE) last released its earnings results on Thursday, August 1st. The biotechnology company reported ($0.78) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.92) by $0.14. The company had revenue of $0.05 million during the quarter, compared to the consensus estimate of $0.30 million. Concert Pharmaceuticals had a negative return on equity of 49.44% and a negative net margin of 7,303.34%. Equities analysts expect that Concert Pharmaceuticals will post -3.45 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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