Concert Pharmaceuticals, Inc. (CNCE) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) from a sell rating to a hold rating in a research note published on Wednesday morning.

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 research firms also recently commented on CNCE. Stifel Nicolaus reiterated a buy rating and set a $30.00 price objective on shares of Concert Pharmaceuticals in a research note on Sunday, October 22nd. HC Wainwright restated a buy rating and set a $20.00 target price on shares of Concert Pharmaceuticals in a research report on Monday, September 18th. Mizuho assumed coverage on shares of Concert Pharmaceuticals in a research report on Thursday, October 26th. They set a buy rating and a $23.00 target price for the company. BidaskClub downgraded shares of Concert Pharmaceuticals from a hold rating to a sell rating in a research report on Friday, August 4th. Finally, ValuEngine upgraded shares of Concert Pharmaceuticals from a sell rating to a hold rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $23.00.

Concert Pharmaceuticals (CNCE) traded up $1.01 during trading hours on Wednesday, hitting $20.91. 657,516 shares of the stock traded hands, compared to its average volume of 238,078. Concert Pharmaceuticals has a 1-year low of $7.11 and a 1-year high of $22.09.

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In other news, insider Ryan Lynch sold 3,500 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $14.51, for a total transaction of $50,785.00. Following the completion of the sale, the insider now owns 9,500 shares of the company’s stock, valued at $137,845. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Value Fund L. P. Biotechnology bought 331,916 shares of the business’s stock in a transaction dated Thursday, October 19th. The shares were bought at an average cost of $15.84 per share, with a total value of $5,257,549.44. The disclosure for this purchase can be found here. 10.10% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in CNCE. SG Americas Securities LLC purchased a new stake in shares of Concert Pharmaceuticals during the third quarter worth about $153,000. American International Group Inc. increased its stake 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 purchasing an additional 677 shares in the last quarter. Alliancebernstein L.P. purchased a new stake in shares of Concert Pharmaceuticals during the second quarter worth about $174,000. State of Wisconsin Investment Board purchased a new stake in shares of Concert Pharmaceuticals during the second quarter worth about $181,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Concert Pharmaceuticals by 1.9% during the second quarter. The Manufacturers Life Insurance Company now owns 15,052 shares of the biotechnology company’s stock worth $210,000 after purchasing an additional 287 shares in the last quarter. 62.51% of the stock is owned by institutional investors and hedge funds.

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. The Company’s deuterated chemical entity platform (DCE Platform), has potential across various therapeutic areas.

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