Zacks: Analysts Anticipate Concert Pharmaceuticals Inc (CNCE) Will Announce Quarterly Sales of $8.11 Million

Brokerages forecast that Concert Pharmaceuticals Inc (NASDAQ:CNCE) will post sales of $8.11 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Concert Pharmaceuticals’ earnings, with estimates ranging from $20,000.00 to $16.19 million. Concert Pharmaceuticals posted sales of $20,000.00 during the same quarter last year, which suggests a positive year over year growth rate of 40,450%. The business is scheduled to issue its next earnings report on Monday, March 5th.

According to Zacks, analysts expect that Concert Pharmaceuticals will report full year sales of $8.11 million for the current year, with estimates ranging from $144.07 million to $160.07 million. For the next year, analysts expect that the company will post sales of $250,000.00 per share. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Concert Pharmaceuticals.

Concert Pharmaceuticals (NASDAQ:CNCE) last released its earnings results on Thursday, November 9th. The biotechnology company reported ($0.70) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.54) by ($0.16). Concert Pharmaceuticals had a negative return on equity of 51.48% and a net margin of 62.31%.

CNCE has been the topic of several recent analyst reports. Zacks Investment Research downgraded Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. BidaskClub upgraded Concert Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 9th. UBS Group set a $34.00 price target on Concert Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, December 19th. TheStreet upgraded Concert Pharmaceuticals from a “c+” rating to a “b-” rating in a research note on Monday, January 8th. Finally, Stifel Nicolaus restated a “buy” rating and set a $27.00 price target on shares of Concert Pharmaceuticals in a research note on Friday, January 12th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $24.33.

In other Concert Pharmaceuticals news, Director Richard Aldrich sold 31,236 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $19.14, for a total transaction of $597,857.04. Following the completion of the sale, the director now directly owns 286,975 shares in the company, valued at $5,492,701.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 sale, the director now owns 3,539 shares of the company’s stock, valued at $87,413.30. The disclosure for this sale can be found here. Insiders have sold 1,433,248 shares of company stock valued at $37,226,329 over the last 90 days. 10.10% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of CNCE. Acadian Asset Management LLC acquired a new stake in shares of Concert Pharmaceuticals in the fourth quarter valued at about $7,713,000. Senvest Management LLC grew its stake in shares of Concert Pharmaceuticals by 458.8% in the third quarter. Senvest Management LLC now owns 314,629 shares of the biotechnology company’s stock valued at $4,641,000 after buying an additional 258,329 shares in the last quarter. Ingalls & Snyder LLC grew its stake in shares of Concert Pharmaceuticals by 14.5% in the third quarter. Ingalls & Snyder LLC now owns 1,209,062 shares of the biotechnology company’s stock valued at $17,834,000 after buying an additional 153,062 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Concert Pharmaceuticals by 575.8% in the fourth quarter. Wells Fargo & Company MN now owns 97,870 shares of the biotechnology company’s stock valued at $2,533,000 after buying an additional 83,388 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Concert Pharmaceuticals by 11.0% in the second quarter. Vanguard Group Inc. now owns 756,513 shares of the biotechnology company’s stock valued at $10,553,000 after buying an additional 74,801 shares in the last quarter. Institutional investors and hedge funds own 67.20% of the company’s stock.

Concert Pharmaceuticals (CNCE) opened at $20.22 on Friday. Concert Pharmaceuticals has a 12-month low of $8.84 and a 12-month high of $30.71.

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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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