Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) Expected to Post Earnings of -$0.62 Per Share
Analysts expect Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) to post earnings per share of ($0.62) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Concert Pharmaceuticals’ earnings. Concert Pharmaceuticals reported earnings of ($0.60) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 3.3%. The firm is scheduled to issue its next earnings report on Tuesday, August 8th.
According to Zacks, analysts expect that Concert Pharmaceuticals will report full year earnings of ($2.71) per share for the current year, with EPS estimates ranging from ($3.10) to ($2.32). For the next year, analysts anticipate that the company will post earnings of ($2.45) per share, with EPS estimates ranging from ($2.47) to ($2.43). Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for Concert Pharmaceuticals.
Concert Pharmaceuticals (NASDAQ:CNCE) last released its quarterly earnings results on Tuesday, May 2nd. The biotechnology company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.54) by $0.06. The company had revenue of $0.02 million for the quarter. Concert Pharmaceuticals had a negative return on equity of 55.30% and a negative net margin of 36,357.25%.
A number of brokerages have recently commented on CNCE. Stifel Nicolaus reissued a “buy” rating and set a $31.00 price objective on shares of Concert Pharmaceuticals in a report on Wednesday, April 5th. BidaskClub lowered Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Aegis reissued a “buy” rating and set a $25.00 price objective on shares of Concert Pharmaceuticals in a report on Monday, June 12th. ValuEngine upgraded Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. Finally, Zacks Investment Research downgraded Concert Pharmaceuticals from a “buy” rating to a “sell” rating in a research note on Monday, May 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $26.20.
Concert Pharmaceuticals (NASDAQ CNCE) traded down 0.07% during trading on Thursday, reaching $14.26. The company had a trading volume of 65,514 shares. The stock has a 50 day moving average of $13.63 and a 200-day moving average of $13.42. The company’s market capitalization is $321.73 million. Concert Pharmaceuticals has a 12 month low of $7.11 and a 12 month high of $19.11.
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A number of hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new stake in shares of Concert Pharmaceuticals during the fourth quarter valued at $440,000. State Street Corp increased its stake in shares of Concert Pharmaceuticals by 3.8% in the fourth quarter. State Street Corp now owns 349,505 shares of the biotechnology company’s stock valued at $3,594,000 after buying an additional 12,690 shares during the last quarter. FMR LLC increased its stake in shares of Concert Pharmaceuticals by 17.7% in the fourth quarter. FMR LLC now owns 100,000 shares of the biotechnology company’s stock valued at $1,029,000 after buying an additional 15,056 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Concert Pharmaceuticals by 34.8% in the fourth quarter. Renaissance Technologies LLC now owns 435,800 shares of the biotechnology company’s stock valued at $4,484,000 after buying an additional 112,396 shares during the last quarter. Finally, Highbridge Capital Management LLC increased its stake in shares of Concert Pharmaceuticals by 46.4% in the fourth quarter. Highbridge Capital Management LLC now owns 15,677 shares of the biotechnology company’s stock valued at $161,000 after buying an additional 4,967 shares during the last quarter. Hedge funds and other institutional investors own 62.65% 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. The Company’s deuterated chemical entity platform (DCE Platform), has potential across various therapeutic areas.
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