Zacks: Brokerages Anticipate Concert Pharmaceuticals Inc (CNCE) Will Post Quarterly Sales of $8.10 Million

Equities research analysts expect Concert Pharmaceuticals Inc (NASDAQ:CNCE) to report sales of $8.10 million for the current quarter, according to Zacks. Two analysts have issued estimates for Concert Pharmaceuticals’ earnings, with estimates ranging from $20,000.00 to $16.19 million. Concert Pharmaceuticals reported sales of $20,000.00 during the same quarter last year, which would suggest a positive year over year growth rate of 40,400%. The company is expected to report its next quarterly 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 fiscal year, with estimates ranging from $144.07 million to $160.07 million. For the next year, analysts expect that the firm will report sales of $250,000.00 per share. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Concert Pharmaceuticals.

A number of research analysts have recently weighed in on the company. BidaskClub lowered Concert Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Friday, December 22nd. UBS Group set a $34.00 price objective on Concert Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, December 19th. TheStreet raised Concert Pharmaceuticals from a “d” rating to a “c+” rating in a report on Wednesday, November 29th. Zacks Investment Research raised Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. Finally, HC Wainwright reissued a “buy” rating and issued a $21.00 price objective on shares of Concert Pharmaceuticals in a report on Friday, November 10th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $24.83.

In other news, insider Value Fund L. P. Biotechnology sold 1,282,856 shares of the company’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $26.65, for a total value of $34,188,112.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ronald W. Barrett sold 14,156 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $24.70, for a total value of $349,653.20. Following the completion of the sale, the director now owns 3,539 shares in the company, valued at approximately $87,413.30. The disclosure for this sale can be found here. 10.10% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in shares of 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 worth $210,000 after buying an additional 287 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Concert Pharmaceuticals by 8.0% in the second quarter. Rhumbline Advisers now owns 20,253 shares of the biotechnology company’s stock worth $283,000 after buying an additional 1,500 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Concert Pharmaceuticals by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 125,996 shares of the biotechnology company’s stock worth $1,757,000 after buying an additional 1,852 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Concert Pharmaceuticals by 11.1% in the second quarter. Teachers Advisors LLC now owns 34,373 shares of the biotechnology company’s stock worth $480,000 after buying an additional 3,446 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Concert Pharmaceuticals by 3.0% in the third quarter. Principal Financial Group Inc. now owns 118,600 shares of the biotechnology company’s stock worth $1,749,000 after buying an additional 3,500 shares during the last quarter. Hedge funds and other institutional investors own 65.29% of the company’s stock.

Concert Pharmaceuticals (NASDAQ:CNCE) opened at $27.54 on Friday. The stock has a market capitalization of $620.55, a PE ratio of 7.34 and a beta of 1.67. Concert Pharmaceuticals has a 1 year low of $8.61 and a 1 year high of $30.71.

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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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