Zacks Investment Research Lowers Concert Pharmaceuticals (CNCE) to Sell

Zacks Investment Research lowered shares of Concert Pharmaceuticals (NASDAQ:CNCE) from a hold rating to a sell rating in a research report report published on Wednesday.

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 have also recently weighed in on CNCE. BidaskClub cut shares of Concert Pharmaceuticals from a hold rating to a sell rating in a research report on Tuesday, July 17th. ValuEngine cut shares of Concert Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, July 24th. Mizuho restated a buy rating and issued a $27.00 price objective on shares of Concert Pharmaceuticals in a research report on Thursday, August 2nd. HC Wainwright restated a buy rating on shares of Concert Pharmaceuticals in a research report on Friday, August 3rd. Finally, Janney Montgomery Scott started coverage on shares of Concert Pharmaceuticals in a research report on Thursday, September 13th. They issued a neutral rating for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. Concert Pharmaceuticals has a consensus rating of Buy and an average target price of $26.80.

Shares of Concert Pharmaceuticals stock traded up $0.19 during mid-day trading on Wednesday, reaching $16.02. 17,530 shares of the stock were exchanged, compared to its average volume of 239,922. The stock has a market capitalization of $378.85 million, a P/E ratio of 3.95 and a beta of 0.89. Concert Pharmaceuticals has a fifty-two week low of $12.33 and a fifty-two week high of $30.71.

Concert Pharmaceuticals (NASDAQ:CNCE) last announced its earnings results on Thursday, November 1st. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.12). The firm had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.02 million. Concert Pharmaceuticals had a negative return on equity of 20.81% and a negative net margin of 392.62%. On average, equities analysts predict that Concert Pharmaceuticals will post -2.25 EPS for the current year.

Several large investors have recently modified their holdings of CNCE. Meeder Asset Management Inc. grew its position in shares of Concert Pharmaceuticals by 679.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 6,305 shares of the biotechnology company’s stock worth $106,000 after buying an additional 5,496 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Concert Pharmaceuticals during the 2nd quarter worth approximately $178,000. Cambria Investment Management L.P. acquired a new stake in shares of Concert Pharmaceuticals during the 2nd quarter worth approximately $216,000. Capital Fund Management S.A. acquired a new stake in shares of Concert Pharmaceuticals during the 2nd quarter worth approximately $244,000. Finally, Hartford Investment Management Co. acquired a new stake in shares of Concert Pharmaceuticals during the 2nd quarter worth approximately $259,000. Institutional investors own 75.88% of the company’s stock.

Concert Pharmaceuticals Company Profile

Concert Pharmaceuticals, Inc operates as a clinical stage biopharmaceutical company. The company discovers and develops novel small molecule drugs for use in the treatment of various pulmonary diseases, including autoimmune and inflammatory diseases, and central nervous systems disorders. Its product candidates include AVP-786, a combination of deudextromethorphan and an ultra-low dose of quinidine, which is in Phase 3 clinical trials for the treatment of neurologic and psychiatric disorders, including agitation associated with Alzheimer's disease; CTP-730, a deuterated analog of apremilast that has completed the Phase 1 clinical trials for the treatment of inflammation or cancer; JZP-386, which has completed the Phase 1 clinical trials for the treatment of patients with narcolepsy; and CTP-543, which is in Phase 1 clinical trials for use in the treatment of alopecia areata.

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