Concert Pharmaceuticals (NASDAQ:CNCE) Downgraded to Hold at BidaskClub

BidaskClub lowered shares of Concert Pharmaceuticals (NASDAQ:CNCE) from a buy rating to a hold rating in a research note issued to investors on Friday, BidAskClub reports.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Concert Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday, June 2nd. ValuEngine lowered shares of Concert Pharmaceuticals from a strong-buy rating to a buy rating in a report on Friday, March 27th. Mizuho restated a buy rating and issued a $18.00 price objective on shares of Concert Pharmaceuticals in a report on Monday, June 1st. Stifel Nicolaus lowered shares of Concert Pharmaceuticals to a hold rating and boosted their price objective for the stock from $8.00 to $11.00 in a report on Thursday, February 27th. Finally, Jefferies Financial Group initiated coverage on shares of Concert Pharmaceuticals in a report on Monday, March 30th. They issued a buy rating and a $23.00 price objective for the company. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Concert Pharmaceuticals presently has a consensus rating of Buy and a consensus target price of $18.43.

Shares of Concert Pharmaceuticals stock opened at $9.38 on Friday. Concert Pharmaceuticals has a 1 year low of $5.36 and a 1 year high of $13.09. The firm has a market cap of $306.91 million, a PE ratio of -3.07 and a beta of 0.93. The company has a debt-to-equity ratio of 0.10, a current ratio of 11.87 and a quick ratio of 11.87. The company has a 50 day simple moving average of $9.62 and a two-hundred day simple moving average of $9.60.

Concert Pharmaceuticals (NASDAQ:CNCE) last announced its earnings results on Thursday, April 30th. The biotechnology company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.04. The business had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.02 million. Concert Pharmaceuticals had a negative net margin of 97,236.70% and a negative return on equity of 60.38%. As a group, research analysts anticipate that Concert Pharmaceuticals will post -2.89 earnings per share for the current year.

In related news, COO Nancy Stuart sold 10,295 shares of Concert Pharmaceuticals stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $11.34, for a total value of $116,745.30. Following the transaction, the chief operating officer now directly owns 167,924 shares of the company’s stock, valued at $1,904,258.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.00% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its position in Concert Pharmaceuticals by 1.1% during the 4th quarter. Bank of New York Mellon Corp now owns 84,442 shares of the biotechnology company’s stock valued at $779,000 after purchasing an additional 947 shares during the period. Deutsche Bank AG increased its position in Concert Pharmaceuticals by 15.8% during the 1st quarter. Deutsche Bank AG now owns 9,799 shares of the biotechnology company’s stock valued at $87,000 after purchasing an additional 1,335 shares during the period. Citigroup Inc. increased its position in Concert Pharmaceuticals by 64.8% during the 4th quarter. Citigroup Inc. now owns 5,135 shares of the biotechnology company’s stock valued at $47,000 after purchasing an additional 2,020 shares during the period. American International Group Inc. increased its position in Concert Pharmaceuticals by 17.5% during the 1st quarter. American International Group Inc. now owns 15,850 shares of the biotechnology company’s stock valued at $140,000 after purchasing an additional 2,360 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Concert Pharmaceuticals by 5.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 51,302 shares of the biotechnology company’s stock valued at $474,000 after purchasing an additional 2,475 shares during the period. 66.66% of the stock is currently owned by institutional investors and hedge funds.

About Concert Pharmaceuticals

Concert Pharmaceuticals, Inc operates as a clinical stage biopharmaceutical company. The company discovers and develops novel small molecule drugs for use in the treatment 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, a once-nightly oxybate product; and CTP-543, which is in Phase 1 clinical trials for use in the treatment of alopecia areata.

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Analyst Recommendations for Concert Pharmaceuticals (NASDAQ:CNCE)

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