Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) Now Covered by HC Wainwright
Equities research analysts at HC Wainwright started coverage on shares of Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) in a note issued to investors on Monday. The firm set a “buy” rating and a $20.00 price target on the biotechnology company’s stock. HC Wainwright’s target price indicates a potential upside of 42.55% from the stock’s current price.
Other research analysts also recently issued research reports about the stock. Aegis reiterated a “buy” rating and issued a $25.00 price target on shares of Concert Pharmaceuticals in a research note on Wednesday, April 5th. Zacks Investment Research cut shares of Concert Pharmaceuticals from a “buy” rating to a “sell” rating in a report on Monday, May 8th. ValuEngine raised shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. BidaskClub cut shares of Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $30.00 price target (down from $31.00) on shares of Concert Pharmaceuticals in a research note on Monday, July 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Concert Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $25.17.
Shares of Concert Pharmaceuticals (NASDAQ:CNCE) opened at 14.03 on Monday. The company’s market capitalization is $316.54 million. The stock has a 50 day moving average of $13.68 and a 200-day moving average of $13.43. Concert Pharmaceuticals has a 12-month low of $7.11 and a 12-month high of $19.11.
Concert Pharmaceuticals (NASDAQ:CNCE) last announced its quarterly earnings results on Tuesday, May 2nd. The biotechnology company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by $0.06. Concert Pharmaceuticals had a negative net margin of 36,357.25% and a negative return on equity of 55.30%. The company had revenue of $0.02 million for the quarter. Equities research analysts forecast that Concert Pharmaceuticals will post ($2.70) EPS for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNCE. Quantbot Technologies LP bought a new position in Concert Pharmaceuticals during the first quarter worth $138,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Concert Pharmaceuticals during the first quarter valued at about $143,000. Highbridge Capital Management LLC raised 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 in the last quarter. American International Group Inc. raised its stake in shares of Concert Pharmaceuticals by 7.1% in the first quarter. American International Group Inc. now owns 10,156 shares of the biotechnology company’s stock valued at $173,000 after buying an additional 677 shares in the last quarter. Finally, Rockefeller Financial Services Inc. raised its stake in shares of Concert Pharmaceuticals by 19.6% in the first quarter. Rockefeller Financial Services Inc. now owns 10,289 shares of the biotechnology company’s stock valued at $176,000 after buying an additional 1,689 shares in the last quarter. 62.80% 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. The Company’s deuterated chemical entity platform (DCE Platform), has potential across various therapeutic areas.
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