Concert Pharmaceuticals (NASDAQ:CNCE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
According to Zacks, “Concert Pharmaceuticals Inc. is a biopharmaceutical company. It is focused on applying its DCE Platform (R) to create novel small molecule drugs. The Company manufactures drugs in various therapeutic areas such as hot flashes, HIV, renal hepatic, neuropathic pain, MRSA infection, and schizophrenia, multiple tumors, and hyperparathyroidism. Concert Pharmaceuticals Inc. is based in United States. “
CNCE has been the subject of a number of other research reports. Janney Montgomery Scott initiated coverage on Concert Pharmaceuticals in a research note on Thursday, September 13th. They issued a “neutral” rating for the company. Mizuho reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Concert Pharmaceuticals in a research note on Thursday, August 2nd. ValuEngine lowered Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. BidaskClub lowered Concert Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 22nd. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Concert Pharmaceuticals in a research note on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $26.80.
CNCE traded down $0.34 during midday trading on Wednesday, reaching $15.83. The company had a trading volume of 272,002 shares, compared to its average volume of 239,813. The stock has a market cap of $336.68 million, a price-to-earnings ratio of 3.88 and a beta of 0.89. Concert Pharmaceuticals has a 1 year low of $12.33 and a 1 year high of $30.71.
Concert Pharmaceuticals (NASDAQ:CNCE) last issued its quarterly earnings results on Thursday, November 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.12). The company had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.02 million. Concert Pharmaceuticals had a negative return on equity of 20.81% and a negative net margin of 392.62%. Equities research analysts forecast that Concert Pharmaceuticals will post -2.14 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its stake in shares of Concert Pharmaceuticals by 679.4% in the second quarter. Meeder Asset Management Inc. now owns 6,305 shares of the biotechnology company’s stock worth $106,000 after acquiring an additional 5,496 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Concert Pharmaceuticals in the second quarter worth about $178,000. Cambria Investment Management L.P. bought a new position in shares of Concert Pharmaceuticals in the second quarter worth about $216,000. Capital Fund Management S.A. bought a new position in Concert Pharmaceuticals during the second quarter valued at approximately $244,000. Finally, Hartford Investment Management Co. bought a new position in Concert Pharmaceuticals during the second quarter valued at approximately $259,000. 75.88% of the stock is owned by hedge funds and other institutional investors.
Concert Pharmaceuticals Company 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.
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