Concert Pharmaceuticals, Inc. (CNCE) Receives $24.60 Average Target Price from Analysts
Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) has received a consensus rating of “Buy” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $24.60.
A number of equities research analysts recently issued reports on CNCE shares. HC Wainwright started coverage on shares of Concert Pharmaceuticals in a report on Monday, July 24th. They issued a “buy” rating and a $20.00 target price for the company. ValuEngine upgraded shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research upgraded shares of Concert Pharmaceuticals from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Monday, September 18th. Stifel Nicolaus reiterated a “buy” rating and set a $30.00 price objective (down from $31.00) on shares of Concert Pharmaceuticals in a research note on Monday, July 10th. Finally, Aegis reiterated a “buy” rating and set a $25.00 price objective on shares of Concert Pharmaceuticals in a research note on Monday, June 12th.
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In other Concert Pharmaceuticals news, insider Ryan Lynch sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $14.51, for a total transaction of $50,785.00. Following the completion of the sale, the insider now directly owns 9,500 shares in the company, valued at $137,845. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 10.10% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP purchased a new position in shares of Concert Pharmaceuticals in the first quarter valued at $138,000. American International Group Inc. boosted its stake in shares of Concert Pharmaceuticals by 7.1% in the first quarter. American International Group Inc. now owns 10,156 shares of the biotechnology company’s stock valued at $173,000 after purchasing an additional 677 shares during the period. Alliancebernstein L.P. purchased a new position in shares of Concert Pharmaceuticals in the second quarter valued at $174,000. State of Wisconsin Investment Board purchased a new position in shares of Concert Pharmaceuticals in the second quarter valued at $181,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Concert Pharmaceuticals by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 15,052 shares of the biotechnology company’s stock valued at $210,000 after purchasing an additional 287 shares during the period. Institutional investors own 61.62% of the company’s stock.
Concert Pharmaceuticals (NASDAQ:CNCE) traded up 1.79% during trading on Friday, hitting $15.35. The stock had a trading volume of 120,074 shares. Concert Pharmaceuticals has a 12 month low of $7.11 and a 12 month high of $19.11. The firm has a 50 day moving average of $14.75 and a 200-day moving average of $14.83. The stock’s market cap is $348.25 million.
Concert Pharmaceuticals (NASDAQ:CNCE) last released its earnings results on Tuesday, August 8th. The biotechnology company reported ($0.58) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.04. Concert Pharmaceuticals had a negative net margin of 60,681.70% and a negative return on equity of 61.98%. The firm had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.20 million. Equities analysts predict that Concert Pharmaceuticals will post ($2.18) earnings per share for the current year.
Concert Pharmaceuticals Company Profile
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.
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