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 report issued 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 issued reports on CNCE. Stifel Nicolaus reissued a “buy” rating and set a $23.00 price objective on shares of Concert Pharmaceuticals in a research report on Tuesday, September 27th. Brean Capital reissued a “buy” rating and set a $25.00 price objective on shares of Concert Pharmaceuticals in a research report on Wednesday, September 7th. Two equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $25.50.
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Concert Pharmaceuticals (NASDAQ:CNCE) traded down 2.40% during mid-day trading on Tuesday, reaching $9.76. 107,231 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $10.13 and its 200 day moving average is $11.79. Concert Pharmaceuticals has a 1-year low of $9.47 and a 1-year high of $25.04. The stock’s market capitalization is $216.94 million.
Concert Pharmaceuticals (NASDAQ:CNCE) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.03. Concert Pharmaceuticals had a negative net margin of 289.85% and a negative return on equity of 29.09%. Analysts forecast that Concert Pharmaceuticals will post ($2.51) earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in CNCE. BVF Inc. IL increased its stake in Concert Pharmaceuticals by 23.4% in the first quarter. BVF Inc. IL now owns 2,755,318 shares of the company’s stock worth $37,638,000 after buying an additional 523,304 shares in the last quarter. Acadian Asset Management LLC increased its stake in Concert Pharmaceuticals by 168.7% in the second quarter. Acadian Asset Management LLC now owns 275,138 shares of the company’s stock worth $3,091,000 after buying an additional 172,735 shares in the last quarter. GSA Capital Partners LLP increased its stake in 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 in the last quarter. Prudential Financial Inc. increased its stake in Concert Pharmaceuticals by 11.4% in the first quarter. Prudential Financial Inc. now owns 241,790 shares of the company’s stock worth $3,303,000 after buying an additional 24,690 shares in the last quarter. Finally, King Wealth Management Group LLC increased its stake in Concert Pharmaceuticals by 12.4% in the first quarter. King Wealth Management Group LLC now owns 31,366 shares of the company’s stock worth $428,000 after buying an additional 3,450 shares in the last quarter. 61.68% of the stock is currently owned by hedge funds and other institutional investors.
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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