Concert Pharmaceuticals Inc. (CNCE) Downgraded to Sell at Zacks Investment Research
Concert Pharmaceuticals Inc. (NASDAQ:CNCE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
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 brokerages also recently commented on CNCE. Brean Capital reaffirmed a “buy” rating on shares of Concert Pharmaceuticals in a research report on Monday, July 11th. Stifel Nicolaus began coverage on Concert Pharmaceuticals in a research report on Friday, July 1st. They set a “buy” rating and a $23.00 price objective on the stock. Two analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Concert Pharmaceuticals has a consensus rating of “Hold” and an average target price of $25.50.
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Shares of Concert Pharmaceuticals (NASDAQ:CNCE) traded down 2.40% during trading on Tuesday, reaching $9.76. The company had a trading volume of 107,466 shares. The firm’s market capitalization is $216.94 million. The stock has a 50 day moving average price of $10.13 and a 200 day moving average price of $11.79. Concert Pharmaceuticals has a 12 month low of $9.47 and a 12 month high of $25.04.
Concert Pharmaceuticals (NASDAQ:CNCE) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 research analysts forecast that Concert Pharmaceuticals will post ($2.51) EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in CNCE. Nationwide Fund Advisors boosted its stake in shares of Concert Pharmaceuticals by 0.9% in the second quarter. Nationwide Fund Advisors now owns 37,420 shares of the company’s stock worth $420,000 after buying an additional 322 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Concert Pharmaceuticals by 1.4% in the second quarter. PNC Financial Services Group Inc. now owns 51,109 shares of the company’s stock worth $574,000 after buying an additional 708 shares during the period. GSA Capital Partners LLP boosted its stake in shares of Concert Pharmaceuticals by 230.9% in the second quarter. GSA Capital Partners LLP now owns 150,748 shares of the company’s stock worth $1,693,000 after buying an additional 105,187 shares during the period. Emerald Acquisition Ltd. bought a new stake in shares of Concert Pharmaceuticals during the second quarter worth $991,000. Finally, Swiss National Bank boosted its stake 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 period. Institutional investors and hedge funds own 61.68% of the company’s stock.
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 segment. It has clinical candidates under development, including AVP-786, CTP-656, CTP-730 and JZP-386.
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