Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) have been assigned an average recommendation of “Buy” from the eight brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $26.40.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday. HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of Concert Pharmaceuticals in a report on Wednesday. BidaskClub lowered shares of Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Stifel Nicolaus reissued a “buy” rating and set a $30.00 price objective (down from $31.00) on shares of Concert Pharmaceuticals in a report on Monday, July 10th. Finally, ValuEngine raised shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, June 23rd.
Concert Pharmaceuticals (NASDAQ CNCE) traded up 0.72% during trading on Friday, hitting $14.01. The stock had a trading volume of 118,235 shares. Concert Pharmaceuticals has a 12 month low of $7.11 and a 12 month high of $19.11. The stock’s market cap is $317.84 million. The firm has a 50 day moving average of $14.27 and a 200-day moving average of $13.89.
Concert Pharmaceuticals (NASDAQ:CNCE) last announced its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.58) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.04. The firm had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.20 million. Concert Pharmaceuticals had a negative net margin of 60,681.70% and a negative return on equity of 61.98%. Equities analysts predict that Concert Pharmaceuticals will post ($2.48) earnings per share for the current year.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Concert Pharmaceuticals by 11.0% in the second quarter. Vanguard Group Inc. now owns 756,513 shares of the biotechnology company’s stock valued at $10,553,000 after buying an additional 74,801 shares during the last quarter. Citadel Advisors LLC acquired a new stake in Concert Pharmaceuticals during the second quarter valued at approximately $6,634,000. Driehaus Capital Management LLC acquired a new stake in Concert Pharmaceuticals during the first quarter valued at approximately $7,353,000. State Street Corp raised its stake in 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. Finally, Prudential Financial Inc. raised its stake in Concert Pharmaceuticals by 26.2% in the first quarter. Prudential Financial Inc. now owns 253,130 shares of the biotechnology company’s stock valued at $4,319,000 after buying an additional 52,500 shares during the last quarter. 62.80% of the stock is currently owned by institutional investors.
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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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