Concert Pharmaceuticals Inc (CNCE) Expected to Announce Quarterly Sales of $8.10 Million

Equities analysts forecast that Concert Pharmaceuticals Inc (NASDAQ:CNCE) will report sales of $8.10 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Concert Pharmaceuticals’ earnings. The lowest sales estimate is $20,000.00 and the highest is $16.19 million. Concert Pharmaceuticals reported sales of $20,000.00 in the same quarter last year, which would suggest a positive year-over-year growth rate of 40,400%. The company is scheduled to announce its next earnings report on Monday, March 5th.

On average, analysts expect that Concert Pharmaceuticals will report full-year sales of $8.10 million for the current year, with estimates ranging from $144.07 million to $160.07 million. For the next year, analysts forecast that the company will report sales of $250,000.00 per share. Zacks’ sales averages are an average based on a survey of analysts that follow Concert Pharmaceuticals.

A number of research firms recently issued reports on CNCE. TheStreet raised Concert Pharmaceuticals from a “d” rating to a “c+” rating in a research note on Wednesday. Zacks Investment Research raised Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. HC Wainwright reissued a “buy” rating and set a $21.00 target price on shares of Concert Pharmaceuticals in a research note on Friday, November 10th. Mizuho began coverage on Concert Pharmaceuticals in a research report on Thursday, October 26th. They set a “buy” rating and a $23.00 price target for the company. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $30.00 price target on shares of Concert Pharmaceuticals in a research report on Sunday, October 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $23.00.

Shares of Concert Pharmaceuticals (CNCE) opened at $23.85 on Friday. Concert Pharmaceuticals has a 52 week low of $7.11 and a 52 week high of $24.04.

In other Concert Pharmaceuticals news, insider Ryan Lynch sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $14.51, for a total transaction of $50,785.00. Following the completion of 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 legal filing with the SEC, which is available at this hyperlink. Also, insider Value Fund L. P. Biotechnology purchased 331,916 shares of Concert Pharmaceuticals stock in a transaction on Thursday, October 19th. The shares were purchased at an average cost of $15.84 per share, with a total value of $5,257,549.44. The disclosure for this purchase can be found here. Corporate insiders own 10.10% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNCE. TIAA CREF Investment Management LLC boosted its holdings in shares of Concert Pharmaceuticals by 18.0% in the 1st quarter. TIAA CREF Investment Management LLC now owns 125,183 shares of the biotechnology company’s stock valued at $2,136,000 after buying an additional 19,078 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Concert Pharmaceuticals by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 681,712 shares of the biotechnology company’s stock valued at $11,630,000 after buying an additional 38,892 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Concert Pharmaceuticals by 0.6% in the 1st quarter. Geode Capital Management LLC now owns 142,740 shares of the biotechnology company’s stock valued at $2,435,000 after buying an additional 838 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Concert Pharmaceuticals by 143.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 32,349 shares of the biotechnology company’s stock valued at $552,000 after buying an additional 19,046 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Concert Pharmaceuticals by 47.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 32,122 shares of the biotechnology company’s stock valued at $449,000 after buying an additional 10,400 shares during the last quarter. 65.34% of the stock is owned by institutional investors.

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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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