Concert Pharmaceuticals Inc (NASDAQ:CNCE) COO Nancy Stuart sold 31,418 shares of the company’s stock in a transaction dated Tuesday, July 10th. The shares were sold at an average price of $17.87, for a total transaction of $561,439.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Concert Pharmaceuticals traded down $0.40, hitting $17.26, on Wednesday, according to Marketbeat.com. 98,382 shares of the stock traded hands, compared to its average volume of 293,644. The company has a market capitalization of $418.32 million, a price-to-earnings ratio of 4.27 and a beta of 1.09. Concert Pharmaceuticals Inc has a 1 year low of $12.87 and a 1 year high of $30.71.
Concert Pharmaceuticals (NASDAQ:CNCE) last announced its quarterly earnings data on Thursday, May 3rd. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.39. The business had revenue of $10.48 million for the quarter. Concert Pharmaceuticals had a net margin of 67.71% and a negative return on equity of 23.57%. equities research analysts expect that Concert Pharmaceuticals Inc will post -2.21 earnings per share for the current fiscal year.
Several brokerages have issued reports on CNCE. TheStreet downgraded shares of Concert Pharmaceuticals from a “b-” rating to a “c” rating in a report on Thursday, March 29th. ValuEngine raised shares of Concert Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, June 1st. HC Wainwright upped their price target on shares of Concert Pharmaceuticals from $25.00 to $26.00 and gave the company a “buy” rating in a report on Friday, May 4th. Mizuho reaffirmed a “buy” rating and issued a $27.00 price target on shares of Concert Pharmaceuticals in a report on Tuesday, April 10th. Finally, BidaskClub downgraded shares of Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, March 28th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Concert Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $26.80.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. lifted its stake in shares of Concert Pharmaceuticals by 14.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 36,621 shares of the biotechnology company’s stock valued at $948,000 after buying an additional 4,499 shares during the period. Metropolitan Life Insurance Co. NY purchased a new position in shares of Concert Pharmaceuticals during the fourth quarter valued at approximately $164,000. New York State Common Retirement Fund lifted its stake in shares of Concert Pharmaceuticals by 36.3% during the first quarter. New York State Common Retirement Fund now owns 32,884 shares of the biotechnology company’s stock valued at $753,000 after buying an additional 8,753 shares during the period. MetLife Investment Advisors LLC purchased a new position in shares of Concert Pharmaceuticals during the fourth quarter valued at approximately $232,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Concert Pharmaceuticals during the first quarter valued at approximately $197,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.
About Concert Pharmaceuticals
Concert Pharmaceuticals, Inc operates as a clinical stage biopharmaceutical company. The company discovers and develops novel small molecule drugs for use in the treatment of various pulmonary diseases, including autoimmune and inflammatory diseases, and central nervous systems disorders. Its product candidates include AVP-786, a combination of deudextromethorphan and an ultra-low dose of quinidine, which is in Phase 3 clinical trials for the treatment of neurologic and psychiatric disorders, including agitation associated with Alzheimer's disease; CTP-730, a deuterated analog of apremilast that has completed the Phase 1 clinical trials for the treatment of inflammation or cancer; JZP-386, which has completed the Phase 1 clinical trials for the treatment of patients with narcolepsy; and CTP-543, which is in Phase 1 clinical trials for use in the treatment of alopecia areata.
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