Mizuho restated their hold rating on shares of Concert Pharmaceuticals (NASDAQ:CNCE) in a research note released on Tuesday morning. The firm currently has a $23.00 price objective on the biotechnology company’s stock.
A number of other equities analysts have also recently weighed in on CNCE. ValuEngine upgraded Concert Pharmaceuticals from a sell rating to a hold rating in a report on Friday, February 2nd. BidaskClub upgraded Concert Pharmaceuticals from a hold rating to a buy rating in a report on Friday, February 9th. Zacks Investment Research upgraded Concert Pharmaceuticals from a sell rating to a hold rating in a report on Monday, February 5th. HC Wainwright reiterated a buy rating and set a $21.00 price target on shares of Concert Pharmaceuticals in a report on Friday, November 10th. Finally, Stifel Nicolaus reiterated a buy rating and set a $30.00 price target on shares of Concert Pharmaceuticals in a report on Sunday, October 22nd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $24.33.
Concert Pharmaceuticals (CNCE) traded up $0.18 during midday trading on Tuesday, hitting $21.51. The stock had a trading volume of 362,700 shares, compared to its average volume of 500,662. The stock has a market cap of $485.74, a PE ratio of 5.86 and a beta of 1.23. Concert Pharmaceuticals has a fifty-two week low of $9.04 and a fifty-two week high of $30.71.
In related news, insider Value Fund L. P. Biotechnology sold 1,282,856 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $26.65, for a total transaction of $34,188,112.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Aldrich sold 31,236 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $19.14, for a total value of $597,857.04. Following the transaction, the director now owns 286,975 shares of the company’s stock, valued at $5,492,701.50. The disclosure for this sale can be found here. Insiders have sold a total of 1,433,248 shares of company stock valued at $37,226,329 over the last 90 days. 10.10% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in CNCE. BlackRock Inc. boosted its holdings in Concert Pharmaceuticals by 57.2% during the 4th quarter. BlackRock Inc. now owns 1,786,223 shares of the biotechnology company’s stock valued at $46,210,000 after acquiring an additional 649,808 shares during the period. Millennium Management LLC boosted its holdings in Concert Pharmaceuticals by 225.8% during the 4th quarter. Millennium Management LLC now owns 725,885 shares of the biotechnology company’s stock valued at $18,779,000 after acquiring an additional 503,066 shares during the period. Acadian Asset Management LLC purchased a new position in Concert Pharmaceuticals during the 4th quarter valued at about $7,713,000. Bogle Investment Management L P DE purchased a new position in Concert Pharmaceuticals during the 4th quarter valued at about $7,554,000. Finally, Senvest Management LLC boosted its holdings in Concert Pharmaceuticals by 458.8% during the 3rd quarter. Senvest Management LLC now owns 314,629 shares of the biotechnology company’s stock valued at $4,641,000 after acquiring an additional 258,329 shares during the period. Institutional investors own 67.44% of the company’s stock.
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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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