Concert Pharmaceuticals Inc (NASDAQ:CNCE) Director Richard Aldrich bought 50,000 shares of the company’s stock in a transaction on Thursday, November 15th. The stock was bought at an average cost of $11.83 per share, for a total transaction of $591,500.00. Following the completion of the acquisition, the director now directly owns 296,975 shares of the company’s stock, valued at approximately $3,513,214.25. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of NASDAQ:CNCE traded up $0.20 during midday trading on Thursday, reaching $11.50. 384,050 shares of the company’s stock traded hands, compared to its average volume of 244,085. The company has a market cap of $294.98 million, a P/E ratio of 2.82 and a beta of 0.89. Concert Pharmaceuticals Inc has a one year low of $10.80 and a one year high of $30.71.
Concert Pharmaceuticals (NASDAQ:CNCE) last announced its quarterly earnings results on Thursday, November 1st. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.12). The business had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.02 million. Concert Pharmaceuticals had a negative net margin of 392.62% and a negative return on equity of 20.81%. On average, sell-side analysts expect that Concert Pharmaceuticals Inc will post -2.25 EPS for the current year.
Large investors have recently made changes to their positions in the company. Meeder Asset Management Inc. lifted its holdings in shares of Concert Pharmaceuticals by 679.4% during the second quarter. Meeder Asset Management Inc. now owns 6,305 shares of the biotechnology company’s stock valued at $106,000 after purchasing an additional 5,496 shares in the last quarter. Mackenzie Financial Corp bought a new position in Concert Pharmaceuticals in the third quarter valued at about $160,000. Jefferies Group LLC bought a new position in Concert Pharmaceuticals in the third quarter valued at about $174,000. Dynamic Technology Lab Private Ltd bought a new position in Concert Pharmaceuticals in the second quarter valued at about $178,000. Finally, MetLife Investment Advisors LLC lifted its holdings in Concert Pharmaceuticals by 55.5% in the third quarter. MetLife Investment Advisors LLC now owns 13,953 shares of the biotechnology company’s stock valued at $207,000 after acquiring an additional 4,980 shares during the period. 75.70% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have commented on the company. ValuEngine downgraded Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday. BidaskClub downgraded Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday. Zacks Investment Research downgraded Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, November 7th. UBS Group set a $19.00 price target on Concert Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Concert Pharmaceuticals in a report on Friday, August 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $23.80.
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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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