Wall Street analysts expect Concert Pharmaceuticals Inc (NASDAQ:CNCE) to announce $20,000.00 in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Concert Pharmaceuticals’ earnings. Concert Pharmaceuticals also reported sales of $20,000.00 during the same quarter last year. The firm is scheduled to announce its next quarterly earnings results on Tuesday, August 14th.
On average, analysts expect that Concert Pharmaceuticals will report full-year sales of $10.53 million for the current fiscal year, with estimates ranging from $10.52 million to $10.54 million. For the next financial year, analysts forecast that the business will report sales of $12.04 million per share, with estimates ranging from $8.00 million to $16.08 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that that provide coverage for Concert Pharmaceuticals.
Concert Pharmaceuticals (NASDAQ:CNCE) last issued its quarterly earnings results on Thursday, May 3rd. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.58) by $0.39. The firm had revenue of $10.48 million for the quarter. Concert Pharmaceuticals had a net margin of 67.71% and a negative return on equity of 23.57%.
CNCE has been the topic of a number of recent analyst reports. Mizuho restated a “hold” rating and issued a $23.00 price target on shares of Concert Pharmaceuticals in a research report on Tuesday, February 13th. ValuEngine upgraded shares of Concert Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, April 3rd. Zacks Investment Research upgraded shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. HC Wainwright restated a “buy” rating and issued a $25.00 price target (up previously from $21.00) on shares of Concert Pharmaceuticals in a research report on Friday, March 2nd. Finally, BidaskClub upgraded shares of Concert Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Concert Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $26.50.
Shares of NASDAQ CNCE opened at $18.77 on Friday. Concert Pharmaceuticals has a 52-week low of $12.67 and a 52-week high of $30.71.
In other news, insider James V. Cassella sold 10,582 shares of Concert Pharmaceuticals stock in a transaction on Tuesday, April 17th. The shares were sold at an average price of $20.18, for a total value of $213,544.76. Following the completion of the sale, the insider now owns 30,000 shares in the company, valued at approximately $605,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in CNCE. Schwab Charles Investment Management Inc. increased its stake in shares of Concert Pharmaceuticals by 14.0% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 36,621 shares of the biotechnology company’s stock valued at $948,000 after acquiring an additional 4,499 shares in the last quarter. Strs Ohio bought a new stake in shares of Concert Pharmaceuticals in the 4th quarter valued at $724,000. Alps Advisors Inc. increased its stake in shares of Concert Pharmaceuticals by 12.5% in the 4th quarter. Alps Advisors Inc. now owns 25,139 shares of the biotechnology company’s stock valued at $650,000 after acquiring an additional 2,796 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Concert Pharmaceuticals by 575.8% in the 4th quarter. Wells Fargo & Company MN now owns 97,870 shares of the biotechnology company’s stock valued at $2,533,000 after acquiring an additional 83,388 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Concert Pharmaceuticals by 55.2% during the 4th quarter. Bank of New York Mellon Corp now owns 198,192 shares of the biotechnology company’s stock valued at $5,127,000 after purchasing an additional 70,468 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.
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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