Concert Pharmaceuticals’ (CNCE) Buy Rating Reaffirmed at HC Wainwright
Concert Pharmaceuticals, Inc. (NASDAQ:CNCE)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a report issued on Monday. They currently have a $20.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective points to a potential upside of 34.41% from the company’s current price.
A number of other analysts have also recently weighed in on the stock. ValuEngine raised shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $30.00 price objective (down previously from $31.00) on shares of Concert Pharmaceuticals in a report on Monday, July 10th. Aegis reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Concert Pharmaceuticals in a report on Monday, June 12th. Zacks Investment Research raised shares of Concert Pharmaceuticals from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Tuesday, August 29th. Finally, BidaskClub cut shares of Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $24.60.
Shares of Concert Pharmaceuticals (NASDAQ:CNCE) traded up 2.06% during mid-day trading on Monday, hitting $14.88. 115,081 shares of the stock traded hands. Concert Pharmaceuticals has a 12-month low of $7.11 and a 12-month high of $19.11. The firm’s 50 day moving average price is $14.60 and its 200-day moving average price is $14.94. The stock’s market cap is $337.58 million.
Concert Pharmaceuticals (NASDAQ:CNCE) last released its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.58) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.62) by $0.04. Concert Pharmaceuticals had a negative net margin of 60,681.70% and a negative return on equity of 61.98%. The business had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.20 million. Analysts predict that Concert Pharmaceuticals will post ($2.18) earnings per share for the current year.
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In other Concert Pharmaceuticals news, insider Ryan Lynch sold 3,500 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $14.51, for a total transaction of $50,785.00. Following the transaction, the insider now owns 9,500 shares of the company’s stock, valued at approximately $137,845. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 15.30% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in CNCE. Bank of New York Mellon Corp increased its stake in Concert Pharmaceuticals by 4.1% during the 1st quarter. Bank of New York Mellon Corp now owns 124,144 shares of the biotechnology company’s stock valued at $2,118,000 after buying an additional 4,873 shares during the period. Virginia Retirement Systems ET AL increased its stake in Concert Pharmaceuticals by 186.6% during the 1st quarter. Virginia Retirement Systems ET AL now owns 51,300 shares of the biotechnology company’s stock valued at $875,000 after buying an additional 33,400 shares during the period. Hillsdale Investment Management Inc. acquired a new position in Concert Pharmaceuticals during the 1st quarter valued at about $143,000. Oxford Asset Management acquired a new position in Concert Pharmaceuticals during the 1st quarter valued at about $237,000. Finally, Quantbot Technologies LP acquired a new position in Concert Pharmaceuticals during the 1st quarter valued at about $138,000. 61.62% of the stock is currently owned by hedge funds and other institutional investors.
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. The Company’s deuterated chemical entity platform (DCE Platform), has potential across various therapeutic areas.
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