BidaskClub Upgrades Concert Pharmaceuticals (CNCE) to Strong-Buy
Concert Pharmaceuticals (NASDAQ:CNCE) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.
A number of other equities research analysts have also recently commented on CNCE. Zacks Investment Research upgraded Concert Pharmaceuticals from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Tuesday, August 29th. ValuEngine upgraded Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Concert Pharmaceuticals in a research note on Monday, September 18th. Stifel Nicolaus reiterated a “buy” rating and issued a $30.00 price target on shares of Concert Pharmaceuticals in a research note on Sunday, October 22nd. Finally, Mizuho started coverage on Concert Pharmaceuticals in a research note on Thursday, October 26th. They issued a “buy” rating and a $23.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $23.00.
Shares of Concert Pharmaceuticals (NASDAQ:CNCE) opened at $24.90 on Friday. Concert Pharmaceuticals has a 12 month low of $7.11 and a 12 month high of $26.37.
Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in Concert Pharmaceuticals in the third quarter valued at approximately $153,000. Alliancebernstein L.P. acquired a new stake in Concert Pharmaceuticals in the second quarter valued at approximately $174,000. State of Wisconsin Investment Board acquired a new stake in Concert Pharmaceuticals in the second quarter valued at approximately $181,000. Princeton Capital Management Inc. acquired a new stake in Concert Pharmaceuticals in the third quarter valued at approximately $215,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Concert Pharmaceuticals by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 15,052 shares of the biotechnology company’s stock valued at $210,000 after purchasing an additional 287 shares during the period. 65.36% of the stock is currently owned by institutional investors.
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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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