Concert Pharmaceuticals, Inc. (CNCE) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) from a buy rating to a hold rating in a research report report published 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. “

A number of other research analysts have also recently issued reports on CNCE. ValuEngine raised shares of Concert Pharmaceuticals from a sell rating to a hold rating in a research report on Friday, September 1st. BidaskClub cut shares of Concert Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, July 12th. HC Wainwright initiated coverage on shares of Concert Pharmaceuticals in a research note on Monday, July 24th. They set a buy rating and a $20.00 price objective for the company. Aegis restated a buy rating and set a $25.00 price objective on shares of Concert Pharmaceuticals in a research note on Monday, June 12th. Finally, Stifel Nicolaus restated a buy rating and set a $30.00 price objective (down from $31.00) on shares of Concert Pharmaceuticals in a research note on Monday, July 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $24.60.

Concert Pharmaceuticals (NASDAQ:CNCE) traded down 2.70% during trading on Friday, reaching $14.04. 121,475 shares of the company traded hands. Concert Pharmaceuticals has a 12-month low of $7.11 and a 12-month high of $19.11. The firm’s 50 day moving average price is $14.62 and its 200 day moving average price is $14.98. The firm’s market capitalization is $318.53 million.

Concert Pharmaceuticals (NASDAQ:CNCE) last announced its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.58) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.62) by $0.04. The business had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.20 million. Concert Pharmaceuticals had a negative net margin of 60,681.70% and a negative return on equity of 61.98%. Equities research analysts expect that Concert Pharmaceuticals will post ($2.18) earnings per share for the current year.

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In related news, insider Ryan Lynch sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $14.51, for a total value of $50,785.00. Following the transaction, the insider now owns 9,500 shares of the company’s stock, valued at $137,845. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 15.30% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Alps Advisors Inc. boosted its holdings in shares of Concert Pharmaceuticals by 6.3% in the second quarter. Alps Advisors Inc. now owns 20,362 shares of the biotechnology company’s stock worth $284,000 after buying an additional 1,200 shares during the last quarter. Prudential Financial Inc. lifted its holdings in Concert Pharmaceuticals by 26.2% during the first quarter. Prudential Financial Inc. now owns 253,130 shares of the biotechnology company’s stock valued at $4,319,000 after purchasing an additional 52,500 shares in the last quarter. Paulson & CO. Inc. purchased a new position in Concert Pharmaceuticals during the first quarter valued at approximately $1,198,000. JPMorgan Chase & Co. lifted its holdings in Concert Pharmaceuticals by 27.5% during the first quarter. JPMorgan Chase & Co. now owns 52,783 shares of the biotechnology company’s stock valued at $900,000 after purchasing an additional 11,392 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Concert Pharmaceuticals by 143.2% during the first quarter. Goldman Sachs Group Inc. now owns 32,349 shares of the biotechnology company’s stock valued at $552,000 after purchasing an additional 19,046 shares in the last quarter. 61.62% of the stock is currently 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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