Northern Trust Corp lifted its position in Concert Pharmaceuticals Inc (NASDAQ:CNCE) by 5.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 673,466 shares of the biotechnology company’s stock after buying an additional 37,369 shares during the quarter. Northern Trust Corp owned approximately 2.88% of Concert Pharmaceuticals worth $11,335,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of CNCE. Meeder Asset Management Inc. raised its holdings in shares of Concert Pharmaceuticals by 679.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 6,305 shares of the biotechnology company’s stock valued at $106,000 after buying an additional 5,496 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Concert Pharmaceuticals during the 2nd quarter worth $178,000. Cambria Investment Management L.P. acquired a new position in Concert Pharmaceuticals during the 2nd quarter worth $216,000. Capital Fund Management S.A. acquired a new position in Concert Pharmaceuticals during the 2nd quarter worth $244,000. Finally, Hartford Investment Management Co. acquired a new position in Concert Pharmaceuticals during the 2nd quarter worth $259,000. Hedge funds and other institutional investors own 75.88% of the company’s stock.
Several research firms recently commented on CNCE. ValuEngine raised Concert Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, October 16th. BidaskClub raised Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th. Zacks Investment Research cut Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday. Mizuho reissued a “buy” rating and set a $27.00 target price on shares of Concert Pharmaceuticals in a research note on Thursday, August 2nd. Finally, HC Wainwright reissued a “buy” rating on shares of Concert Pharmaceuticals in a research note on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $26.80.
CNCE opened at $16.06 on Friday. Concert Pharmaceuticals Inc has a 12 month low of $12.33 and a 12 month high of $30.71. The firm has a market cap of $370.89 million, a P/E ratio of 3.94 and a beta of 0.89.
Concert Pharmaceuticals (NASDAQ:CNCE) last released its earnings results on Thursday, November 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.62) by ($0.12). The company had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.02 million. Concert Pharmaceuticals had a negative return on equity of 20.81% and a negative net margin of 392.62%. Analysts anticipate that Concert Pharmaceuticals Inc will post -2.25 earnings per share for the current fiscal year.
Concert Pharmaceuticals Profile
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.
Further Reading: What strategies should day traders use to execute a trade?
Want to see what other hedge funds are holding CNCE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Concert Pharmaceuticals Inc (NASDAQ:CNCE).
Receive News & Ratings for Concert Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Concert Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.