Concert Pharmaceuticals (CNCE) Downgraded by BidaskClub

BidaskClub lowered shares of Concert Pharmaceuticals (NASDAQ:CNCE) from a buy rating to a hold rating in a research note released on Wednesday morning.

Several other research analysts also recently weighed in on the stock. Mizuho restated a hold rating and set a $23.00 price target on shares of Concert Pharmaceuticals in a research report on Tuesday, February 13th. UBS set a $34.00 price target on shares of Concert Pharmaceuticals and gave the stock a buy rating in a research report on Tuesday, December 19th. Stifel Nicolaus restated a buy rating and set a $27.00 price target on shares of Concert Pharmaceuticals in a research report on Friday, January 12th. TheStreet upgraded shares of Concert Pharmaceuticals from a d rating to a c+ rating in a research report on Wednesday, November 29th. Finally, Zacks Investment Research upgraded shares of Concert Pharmaceuticals from a sell rating to a hold rating in a research report on Monday, February 12th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Concert Pharmaceuticals presently has a consensus rating of Buy and an average target price of $25.67.

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NASDAQ:CNCE opened at $22.90 on Wednesday. Concert Pharmaceuticals has a twelve month low of $11.88 and a twelve month high of $30.71.

Concert Pharmaceuticals (NASDAQ:CNCE) last released its quarterly earnings results on Thursday, March 1st. The biotechnology company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.08). Concert Pharmaceuticals had a negative return on equity of 36.25% and a net margin of 66.47%. The company had revenue of $0.01 million for the quarter, compared to analyst estimates of $8.11 million. equities research analysts expect that Concert Pharmaceuticals will post -2.35 earnings per share for the current fiscal year.

In other Concert Pharmaceuticals news, Director Richard Aldrich sold 31,236 shares of the 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 completion of the sale, the director now owns 286,975 shares in the company, valued at approximately $5,492,701.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 136,236 shares of company stock valued at $2,688,563. 10.10% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co. NY acquired a new stake in Concert Pharmaceuticals in the 4th quarter valued at about $164,000. MetLife Investment Advisors LLC acquired a new stake in Concert Pharmaceuticals in the 4th quarter valued at about $232,000. SG Americas Securities LLC acquired a new stake in Concert Pharmaceuticals in the 3rd quarter valued at about $153,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in Concert Pharmaceuticals in the 4th quarter valued at about $329,000. Finally, The Manufacturers Life Insurance Company raised its holdings in Concert Pharmaceuticals by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,052 shares of the biotechnology company’s stock valued at $210,000 after acquiring an additional 287 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

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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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