Concert Pharmaceuticals Inc. (CNCE) Receives Average Recommendation of “Hold” from Brokerages
Concert Pharmaceuticals Inc. (NASDAQ:CNCE) has been given an average recommendation of “Hold” by the seven brokerages that are currently covering the stock. Two analysts have rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $24.00.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday. Stifel Nicolaus reaffirmed a “buy” rating and set a $23.00 price target on shares of Concert Pharmaceuticals in a report on Tuesday, September 27th. Finally, Brean Capital reaffirmed a “buy” rating and set a $25.00 price target on shares of Concert Pharmaceuticals in a report on Wednesday, September 7th.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Algert Global LLC acquired a new position in Concert Pharmaceuticals during the third quarter worth about $202,000. Numeric Investors LLC increased its position in Concert Pharmaceuticals by 23.3% in the second quarter. Numeric Investors LLC now owns 618,598 shares of the company’s stock worth $6,947,000 after buying an additional 117,019 shares during the last quarter. Point72 Asset Management L.P. increased its position in Concert Pharmaceuticals by 15.4% in the second quarter. Point72 Asset Management L.P. now owns 404,479 shares of the company’s stock worth $4,542,000 after buying an additional 54,107 shares during the last quarter. Allianz Asset Management AG increased its position in Concert Pharmaceuticals by 5.2% in the second quarter. Allianz Asset Management AG now owns 159,968 shares of the company’s stock worth $1,796,000 after buying an additional 7,918 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in 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. Institutional investors own 61.68% of the company’s stock.
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Shares of Concert Pharmaceuticals (NASDAQ:CNCE) traded down 0.61% on Wednesday, hitting $9.70. 78,051 shares of the stock were exchanged. The firm’s market cap is $215.60 million. The firm’s 50 day moving average price is $10.10 and its 200 day moving average price is $11.78. Concert Pharmaceuticals has a one year low of $9.47 and a one year high of $25.04.
Concert Pharmaceuticals (NASDAQ:CNCE) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.60) earnings per share for the quarter, beating the Zacks’ 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%. Equities analysts anticipate that Concert Pharmaceuticals will post ($2.51) earnings per share for the current year.
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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