BidaskClub Downgrades Concert Pharmaceuticals (NASDAQ:CNCE) to Hold

Concert Pharmaceuticals (NASDAQ:CNCE) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Friday, BidAskClub reports.

Several other equities research analysts also recently commented on CNCE. ValuEngine downgraded shares of Concert Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 27th. Stifel Nicolaus downgraded shares of Concert Pharmaceuticals to a “hold” rating and boosted their target price for the stock from $8.00 to $11.00 in a research report on Thursday, February 27th. Jefferies Financial Group began coverage on shares of Concert Pharmaceuticals in a research report on Monday, March 30th. They set a “buy” rating and a $23.00 target price for the company. Mizuho reissued a “buy” rating and set a $18.00 target price on shares of Concert Pharmaceuticals in a research report on Monday, June 1st. Finally, Zacks Investment Research downgraded shares of Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Concert Pharmaceuticals presently has an average rating of “Buy” and an average price target of $18.43.

Shares of NASDAQ CNCE traded down $0.03 during trading on Friday, hitting $10.32. 2,975 shares of the company traded hands, compared to its average volume of 126,611. The business’s fifty day moving average is $9.58 and its 200 day moving average is $9.59. Concert Pharmaceuticals has a fifty-two week low of $5.36 and a fifty-two week high of $13.09. The firm has a market capitalization of $306.88 million, a price-to-earnings ratio of -3.37 and a beta of 0.93. The company has a debt-to-equity ratio of 0.10, a quick ratio of 11.87 and a current ratio of 11.87.

Concert Pharmaceuticals (NASDAQ:CNCE) last announced its quarterly earnings data on Thursday, April 30th. The biotechnology company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.04. Concert Pharmaceuticals had a negative net margin of 97,236.70% and a negative return on equity of 60.38%. The firm had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.02 million. On average, analysts predict that Concert Pharmaceuticals will post -2.89 EPS for the current year.

In other Concert Pharmaceuticals news, COO Nancy Stuart sold 10,295 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $11.34, for a total value of $116,745.30. Following the completion of the sale, the chief operating officer now directly owns 167,924 shares of the company’s stock, valued at approximately $1,904,258.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 11.00% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. RA Capital Management L.P. purchased a new position in Concert Pharmaceuticals in the first quarter valued at about $16,429,000. Bank of America Corp DE boosted its stake in Concert Pharmaceuticals by 22.8% in the fourth quarter. Bank of America Corp DE now owns 1,790,166 shares of the biotechnology company’s stock valued at $16,514,000 after acquiring an additional 332,585 shares during the last quarter. BlackRock Inc. boosted its stake in Concert Pharmaceuticals by 16.4% in the first quarter. BlackRock Inc. now owns 1,753,460 shares of the biotechnology company’s stock valued at $15,500,000 after acquiring an additional 246,806 shares during the last quarter. Sphera Funds Management LTD. boosted its stake in Concert Pharmaceuticals by 623.6% in the first quarter. Sphera Funds Management LTD. now owns 1,013,039 shares of the biotechnology company’s stock valued at $8,955,000 after acquiring an additional 873,039 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Concert Pharmaceuticals by 2.7% in the fourth quarter. Renaissance Technologies LLC now owns 634,400 shares of the biotechnology company’s stock valued at $5,852,000 after acquiring an additional 16,610 shares during the last quarter. Hedge funds and other institutional investors own 66.66% of the company’s stock.

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 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, a once-nightly oxybate product; and CTP-543, which is in Phase 1 clinical trials for use in the treatment of alopecia areata.

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Analyst Recommendations for Concert Pharmaceuticals (NASDAQ:CNCE)

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