Concert Pharmaceuticals, Inc. (CNCE) Downgraded by Zacks Investment Research to “Hold”
Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.
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. “
CNCE has been the subject of several other research reports. HC Wainwright initiated coverage on Concert Pharmaceuticals in a report on Monday, July 24th. They issued a “buy” rating and a $20.00 price target for the company. ValuEngine raised Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Aegis reaffirmed a “buy” rating and set a $25.00 target price on shares of Concert Pharmaceuticals in a report on Monday, June 12th. BidaskClub downgraded Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $30.00 target price (down previously from $31.00) on shares of Concert Pharmaceuticals in a report on Monday, July 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Concert Pharmaceuticals has an average rating of “Hold” and an average price target of $24.80.
Concert Pharmaceuticals (CNCE) traded down 1.02% during midday trading on Friday, hitting $14.58. 130,695 shares of the stock traded hands. The company has a 50-day moving average of $14.62 and a 200-day moving average of $14.79. Concert Pharmaceuticals has a 12 month low of $7.11 and a 12 month high of $19.11. The stock’s market cap is $330.78 million.
Concert Pharmaceuticals (NASDAQ:CNCE) last issued its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.58) earnings per share for the quarter, topping the consensus estimate of ($0.62) by $0.04. The business had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.20 million. Concert Pharmaceuticals had a negative return on equity of 61.98% and a negative net margin of 60,681.70%. On average, equities research analysts anticipate that Concert Pharmaceuticals will post ($2.18) earnings per share for the current year.
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Institutional investors have recently added to or reduced their stakes in the stock. Alps Advisors Inc. lifted its holdings in shares of Concert Pharmaceuticals by 6.3% during the second quarter. Alps Advisors Inc. now owns 20,362 shares of the biotechnology company’s stock worth $284,000 after purchasing an additional 1,200 shares during the period. Prudential Financial Inc. lifted its holdings in shares of Concert Pharmaceuticals by 26.2% during the first quarter. Prudential Financial Inc. now owns 253,130 shares of the biotechnology company’s stock worth $4,319,000 after purchasing an additional 52,500 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Concert Pharmaceuticals by 27.5% during the first quarter. JPMorgan Chase & Co. now owns 52,783 shares of the biotechnology company’s stock worth $900,000 after purchasing an additional 11,392 shares during the period. Paulson & CO. Inc. acquired a new stake in shares of Concert Pharmaceuticals during the first quarter worth about $1,198,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Concert Pharmaceuticals by 143.2% during the first quarter. Goldman Sachs Group Inc. now owns 32,349 shares of the biotechnology company’s stock worth $552,000 after purchasing an additional 19,046 shares during the period. 62.37% of the stock is 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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