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 released on Tuesday.
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. “
Several other equities analysts have also commented on the stock. HC Wainwright restated a “buy” rating and issued a $20.00 price objective on shares of Concert Pharmaceuticals in a report on Monday, September 18th. ValuEngine upgraded shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub lowered shares of Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Stifel Nicolaus restated a “buy” rating and issued a $30.00 price objective (down from $31.00) on shares of Concert Pharmaceuticals in a report on Monday, July 10th. Finally, Aegis restated a “buy” rating and issued a $25.00 price objective on shares of Concert Pharmaceuticals in a report on Monday, June 12th. 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 company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $24.60.
Shares of Concert Pharmaceuticals (NASDAQ CNCE) traded down 5.89% during trading on Tuesday, hitting $15.19. 161,544 shares of the stock were exchanged. The company’s market cap is $344.62 million. The stock’s 50 day moving average price is $14.85 and its 200-day moving average price is $14.76. Concert Pharmaceuticals has a one year low of $7.11 and a one year high of $19.11.
Concert Pharmaceuticals (NASDAQ:CNCE) last issued its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.58) EPS for the quarter, topping the 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 firm had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.20 million. On average, analysts predict that Concert Pharmaceuticals will post ($2.18) EPS for the current year.
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In other Concert Pharmaceuticals news, insider Ryan Lynch sold 3,500 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $14.51, for a total transaction of $50,785.00. Following the sale, the insider now directly owns 9,500 shares in the company, valued at approximately $137,845. The transaction was disclosed in a document filed with the SEC, which is available through this link. 10.10% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in CNCE. American International Group Inc. lifted its holdings in Concert Pharmaceuticals by 7.1% during the 1st quarter. American International Group Inc. now owns 10,156 shares of the biotechnology company’s stock worth $173,000 after buying an additional 677 shares in the last quarter. Alliancebernstein L.P. acquired a new stake in Concert Pharmaceuticals during the 2nd quarter worth approximately $174,000. State of Wisconsin Investment Board acquired a new stake in Concert Pharmaceuticals during the 2nd quarter worth approximately $181,000. The Manufacturers Life Insurance Company lifted its holdings in Concert Pharmaceuticals by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,052 shares of the biotechnology company’s stock worth $210,000 after buying an additional 287 shares in the last quarter. Finally, Airain ltd acquired a new stake in Concert Pharmaceuticals during the 2nd quarter worth approximately $215,000. Institutional investors own 61.62% of the company’s stock.
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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