Concert Pharmaceuticals Inc. (CNCE) Trading Down 1%
Concert Pharmaceuticals Inc. (NASDAQ:CNCE)’s share price fell 1% during mid-day trading on Wednesday . The company traded as low as $10.28 and last traded at $10.42, with a volume of 123,106 shares traded. The stock had previously closed at $10.53.
A number of brokerages have recently issued reports on CNCE. Brean Capital reissued a “buy” rating and set a $25.00 target price on shares of Concert Pharmaceuticals in a research note on Wednesday, September 7th. Zacks Investment Research downgraded Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, July 11th. Finally, Stifel Nicolaus initiated coverage on Concert Pharmaceuticals in a report on Friday, July 1st. They issued a “buy” rating and a $23.00 price target on the stock. Two research analysts have rated the stock with a sell rating and six have issued a buy rating to the company. Concert Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $26.43.
The company’s market cap is $231.61 million. The company’s 50 day moving average price is $10.59 and its 200 day moving average price is $12.08.
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Concert Pharmaceuticals (NASDAQ:CNCE) last issued its earnings results on Tuesday, August 9th. The company reported ($0.60) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.03. Concert Pharmaceuticals had a negative return on equity of 29.09% and a negative net margin of 289.85%. On average, equities analysts forecast that Concert Pharmaceuticals Inc. will post ($2.51) earnings per share for the current year.
A number of institutional investors have recently modified their holdings of CNCE. American International Group Inc. increased its position in shares of Concert Pharmaceuticals by 5.4% in the second quarter. American International Group Inc. now owns 9,490 shares of the company’s stock worth $107,000 after buying an additional 483 shares during the last quarter. Rhumbline Advisers increased its position in shares of Concert Pharmaceuticals by 16.3% in the second quarter. Rhumbline Advisers now owns 17,248 shares of the company’s stock worth $194,000 after buying an additional 2,414 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Concert Pharmaceuticals by 1.8% in the second quarter. ProShare Advisors LLC now owns 18,558 shares of the company’s stock worth $208,000 after buying an additional 326 shares during the last quarter. Teachers Advisors Inc. increased its position in shares of Concert Pharmaceuticals by 10.6% in the second quarter. Teachers Advisors Inc. now owns 24,624 shares of the company’s stock worth $277,000 after buying an additional 2,356 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Concert Pharmaceuticals by 5.7% in the second quarter. Swiss National Bank now owns 27,792 shares of the company’s stock worth $312,000 after buying an additional 1,500 shares during the last quarter. Institutional investors own 61.68% of the company’s stock.
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 segment. It has clinical candidates under development, including AVP-786, CTP-656, CTP-730 and JZP-386.
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