Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.
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. “
Several other equities research analysts also recently issued reports on the company. ValuEngine upgraded Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, September 1st. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Concert Pharmaceuticals in a report on Wednesday, August 9th. BidaskClub downgraded Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Stifel Nicolaus restated a “buy” rating and issued a $30.00 price target (down from $31.00) on shares of Concert Pharmaceuticals in a report on Monday, July 10th. Finally, Aegis restated a “buy” rating and issued a $25.00 price target on shares of Concert Pharmaceuticals in a report on Monday, June 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $24.80.
Shares of Concert Pharmaceuticals (NASDAQ:CNCE) opened at 14.58 on Friday. The firm’s 50-day moving average price is $14.61 and its 200-day moving average price is $14.82. The firm’s market capitalization is $330.78 million. Concert Pharmaceuticals has a 12 month low of $7.11 and a 12 month high of $19.11.
Concert Pharmaceuticals (NASDAQ:CNCE) last announced its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.62) by $0.04. Concert Pharmaceuticals had a negative return on equity of 61.98% and a negative net margin of 60,681.70%. The company had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.20 million. On average, equities analysts anticipate that Concert Pharmaceuticals will post ($2.18) earnings per share for the current year.
Hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in shares of Concert Pharmaceuticals during the first quarter worth about $138,000. Hillsdale Investment Management Inc. acquired a new position in shares of Concert Pharmaceuticals during the first quarter worth about $143,000. American International Group Inc. boosted its position in shares of Concert Pharmaceuticals by 7.1% during the first quarter. American International Group Inc. now owns 10,156 shares of the biotechnology company’s stock worth $173,000 after buying an additional 677 shares during the period. Alliancebernstein L.P. acquired a new position in shares of Concert Pharmaceuticals during the second quarter worth about $174,000. Finally, State of Wisconsin Investment Board acquired a new position in shares of Concert Pharmaceuticals during the second quarter worth about $181,000. 62.37% of the stock is owned by institutional investors.
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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