Concert Pharmaceuticals (NASDAQ:CNCE) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Concert Pharmaceuticals (NASDAQ:CNCE) from a sell rating to a hold rating in a research note released on Tuesday, Zacks.com reports.

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. “

CNCE has been the topic of a number of other research reports. Mizuho reiterated a buy rating and issued a $9.00 price objective (down previously from $13.00) on shares of Concert Pharmaceuticals in a report on Tuesday, October 5th. JMP Securities dropped their price objective on Concert Pharmaceuticals from $17.00 to $10.00 and set an outperform rating on the stock in a report on Friday, November 12th.

CNCE stock opened at $3.15 on Tuesday. The firm has a market capitalization of $109.18 million, a P/E ratio of -1.59 and a beta of 0.28. The business’s 50-day moving average is $3.51 and its two-hundred day moving average is $3.42. Concert Pharmaceuticals has a 1 year low of $2.64 and a 1 year high of $12.38.

Concert Pharmaceuticals (NASDAQ:CNCE) last posted its quarterly earnings results on Tuesday, November 9th. The biotechnology company reported ($0.78) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.03. Concert Pharmaceuticals had a negative return on equity of 56.79% and a negative net margin of 203.59%. The company had revenue of $0.54 million for the quarter, compared to analyst estimates of $0.25 million. During the same quarter last year, the company earned ($0.60) EPS. On average, equities analysts anticipate that Concert Pharmaceuticals will post -2.07 earnings per share for the current fiscal year.

In related news, CEO Roger D. Tung sold 9,240 shares of the firm’s stock in a transaction that occurred on Thursday, January 6th. The stock was sold at an average price of $3.09, for a total transaction of $28,551.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 18,834 shares of company stock worth $62,037 in the last 90 days. 11.00% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in CNCE. Deutsche Bank AG grew its stake in Concert Pharmaceuticals by 33.7% during the 2nd quarter. Deutsche Bank AG now owns 24,763 shares of the biotechnology company’s stock worth $104,000 after buying an additional 6,235 shares during the last quarter. Ergoteles LLC purchased a new position in shares of Concert Pharmaceuticals in the 2nd quarter valued at approximately $520,000. Bank of Montreal Can grew its stake in shares of Concert Pharmaceuticals by 5,241.5% in the 2nd quarter. Bank of Montreal Can now owns 45,777 shares of the biotechnology company’s stock valued at $201,000 after purchasing an additional 44,920 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Concert Pharmaceuticals in the 2nd quarter valued at approximately $154,000. Finally, Renaissance Technologies LLC grew its stake in shares of Concert Pharmaceuticals by 7.6% in the 2nd quarter. Renaissance Technologies LLC now owns 993,000 shares of the biotechnology company’s stock valued at $4,190,000 after purchasing an additional 69,776 shares during the last quarter. Hedge funds and other institutional investors own 60.73% of the company’s stock.

About Concert Pharmaceuticals

Concert Pharmaceuticals, Inc is a clinical stage biopharmaceutical company, which discovers and develops novel small molecule drugs through the use of deuterium technology. Its product candidates target a range of diseases including autoimmune disorders, inflammation, and central nervous system disorders.

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