Concert Pharmaceuticals (CNCE) Given a $13.00 Price Target by UBS Group Analysts
UBS Group set a $13.00 price objective on Concert Pharmaceuticals (NASDAQ:CNCE) in a report published on Wednesday, Stock Target Advisor reports. The brokerage currently has a buy rating on the biotechnology company’s stock.
Several other brokerages have also recently weighed in on CNCE. Zacks Investment Research cut shares of Concert Pharmaceuticals from a hold rating to a strong sell rating in a research report on Tuesday, March 5th. BidaskClub upgraded shares of Concert Pharmaceuticals from a buy rating to a strong-buy rating in a research note on Wednesday, March 6th. TheStreet lowered shares of Concert Pharmaceuticals from a c- rating to a d rating in a research note on Friday, March 1st. HC Wainwright reiterated a buy rating on shares of Concert Pharmaceuticals in a research note on Friday, March 1st. Finally, ValuEngine lowered shares of Concert Pharmaceuticals from a buy rating to a hold rating in a research note on Friday, January 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $20.00.
Shares of NASDAQ CNCE opened at $10.41 on Wednesday. Concert Pharmaceuticals has a fifty-two week low of $10.24 and a fifty-two week high of $21.00. The stock has a market capitalization of $244.95 million, a P/E ratio of -4.34 and a beta of 0.99.
A number of large investors have recently bought and sold shares of CNCE. Great West Life Assurance Co. Can purchased a new stake in shares of Concert Pharmaceuticals during the 4th quarter worth approximately $48,000. Metropolitan Life Insurance Co. NY boosted its holdings in Concert Pharmaceuticals by 452.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,553 shares of the biotechnology company’s stock worth $95,000 after buying an additional 6,185 shares during the period. Mackenzie Financial Corp bought a new position in Concert Pharmaceuticals in the 3rd quarter worth approximately $160,000. Jefferies Group LLC bought a new position in Concert Pharmaceuticals in the 3rd quarter worth approximately $174,000. Finally, MetLife Investment Advisors LLC boosted its holdings in Concert Pharmaceuticals by 55.5% in the 3rd quarter. MetLife Investment Advisors LLC now owns 13,953 shares of the biotechnology company’s stock worth $207,000 after buying an additional 4,980 shares during the period. Hedge funds and other institutional investors own 75.40% 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 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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