Concert Pharmaceuticals, Inc. (CNCE) Rating Increased to Buy at Zacks Investment Research
Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $17.00 price objective on the biotechnology company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 13.41% from the stock’s previous close.
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 topic of a number of other research reports. HC Wainwright started coverage on shares of Concert Pharmaceuticals in a research note on Monday, July 24th. They issued a “buy” rating and a $20.00 target price on the stock. ValuEngine raised shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. Aegis reissued a “buy” rating and issued a $25.00 target price on shares of Concert Pharmaceuticals in a research note on Monday, June 12th. BidaskClub cut shares of Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $30.00 target price (down previously from $31.00) on shares of Concert Pharmaceuticals in a research note on Monday, July 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $24.83.
Shares of Concert Pharmaceuticals (NASDAQ:CNCE) opened at 14.99 on Tuesday. The stock has a 50 day moving average price of $14.34 and a 200 day moving average price of $14.27. Concert Pharmaceuticals has a 12-month low of $7.11 and a 12-month high of $19.11. The stock’s market capitalization is $340.08 million.
Concert Pharmaceuticals (NASDAQ:CNCE) last posted its earnings results on Tuesday, August 8th. The biotechnology company reported ($0.58) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.62) by $0.04. The business had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.20 million. Concert Pharmaceuticals had a negative net margin of 60,681.70% and a negative return on equity of 61.98%. On average, equities analysts anticipate that Concert Pharmaceuticals will post ($2.18) earnings per share for the current fiscal year.
TRADEMARK VIOLATION WARNING: This report was posted by Watch List News and is the property of of Watch List News. If you are reading this report on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The original version of this report can be viewed at https://www.watchlistnews.com/concert-pharmaceuticals-inc-cnce-rating-increased-to-buy-at-zacks-investment-research/1533286.html.
Hedge funds have recently modified their holdings of the company. Citadel Advisors LLC purchased a new stake in shares of Concert Pharmaceuticals during the second quarter valued at $6,634,000. Driehaus Capital Management LLC purchased a new stake in shares of Concert Pharmaceuticals during the first quarter valued at $7,353,000. Lyon Street Capital LLC boosted its stake in shares of Concert Pharmaceuticals by 405.5% in the second quarter. Lyon Street Capital LLC now owns 434,752 shares of the biotechnology company’s stock valued at $6,065,000 after buying an additional 348,741 shares in the last quarter. QS Investors LLC purchased a new stake in shares of Concert Pharmaceuticals during the second quarter valued at $1,294,000. Finally, Vanguard Group Inc. boosted its stake in shares of Concert Pharmaceuticals by 11.0% in the second quarter. Vanguard Group Inc. now owns 756,513 shares of the biotechnology company’s stock valued at $10,553,000 after buying an additional 74,801 shares in the last quarter. 62.37% of the stock is currently owned by hedge funds and other institutional investors.
About Concert Pharmaceuticals
Concert Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery and development of small molecule drugs. The Company operates through the development of pharmaceutical products on its own behalf or in collaboration with others. The Company’s deuterated chemical entity platform (DCE Platform), has potential across various therapeutic areas.
Receive News & Ratings for Concert Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Concert Pharmaceuticals Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.