Concert Pharmaceuticals, Inc. (CNCE) Expected to Announce Earnings of -$0.54 Per Share
Equities analysts expect Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) to announce ($0.54) earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for Concert Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.58) and the highest is ($0.49). Concert Pharmaceuticals posted earnings per share of ($0.51) in the same quarter last year, which suggests a negative year-over-year growth rate of 5.9%. The firm is expected to issue its next earnings results on Tuesday, November 14th.
On average, analysts expect that Concert Pharmaceuticals will report full year earnings of ($2.04) per share for the current financial year. For the next year, analysts expect that the firm will report earnings of ($2.12) per share, with EPS estimates ranging from ($2.48) to ($1.75). Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that follow Concert Pharmaceuticals.
Concert Pharmaceuticals (NASDAQ:CNCE) last issued its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.58) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.62) by $0.04. The firm had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.20 million. Concert Pharmaceuticals had a negative net margin of 60,681.70% and a negative return on equity of 61.98%.
A number of research analysts recently issued reports on CNCE shares. ValuEngine upgraded shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research raised Concert Pharmaceuticals from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Monday, September 18th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Concert Pharmaceuticals in a research report on Monday, September 18th. Finally, BidaskClub lowered Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $24.60.
Shares of Concert Pharmaceuticals (NASDAQ:CNCE) traded up 1.13% during mid-day trading on Wednesday, reaching $15.25. 26,285 shares of the company traded hands. The firm’s market capitalization is $345.98 million. The firm has a 50-day moving average price of $14.72 and a 200 day moving average price of $14.83. Concert Pharmaceuticals has a 52 week low of $7.11 and a 52 week high of $19.11.
In related news, insider Ryan Lynch sold 3,500 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $14.51, for a total value of $50,785.00. Following the completion of the sale, the insider now owns 9,500 shares of the company’s stock, valued at approximately $137,845. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 10.10% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP acquired a new stake in shares of Concert Pharmaceuticals in the first quarter valued at about $138,000. American International Group Inc. increased its stake in shares of Concert Pharmaceuticals by 7.1% during the first quarter. American International Group Inc. now owns 10,156 shares of the biotechnology company’s stock worth $173,000 after purchasing an additional 677 shares in the last quarter. Alliancebernstein L.P. purchased a new stake in shares of Concert Pharmaceuticals during the second quarter worth about $174,000. State of Wisconsin Investment Board purchased a new stake in shares of Concert Pharmaceuticals during the second quarter worth about $181,000. Finally, Oxford Asset Management acquired a new position in shares of Concert Pharmaceuticals during the 1st quarter worth about $237,000. 61.62% of the stock is currently owned by institutional investors and hedge funds.
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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