MERIAN GLOBAL INVESTORS UK Ltd Invests $398,000 in Concert Pharmaceuticals Inc (CNCE) Stock

MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in Concert Pharmaceuticals Inc (NASDAQ:CNCE) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 26,859 shares of the biotechnology company’s stock, valued at approximately $398,000. MERIAN GLOBAL INVESTORS UK Ltd owned approximately 0.11% of Concert Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CNCE. Meeder Asset Management Inc. lifted its stake in Concert Pharmaceuticals by 679.4% in the second quarter. Meeder Asset Management Inc. now owns 6,305 shares of the biotechnology company’s stock worth $106,000 after purchasing an additional 5,496 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Concert Pharmaceuticals in the second quarter worth about $178,000. Cambria Investment Management L.P. bought a new stake in Concert Pharmaceuticals in the second quarter worth about $216,000. Capital Fund Management S.A. bought a new stake in Concert Pharmaceuticals in the second quarter worth about $244,000. Finally, Hartford Investment Management Co. bought a new stake in Concert Pharmaceuticals in the second quarter worth about $259,000. Institutional investors own 75.66% of the company’s stock.

Concert Pharmaceuticals stock opened at $14.80 on Tuesday. Concert Pharmaceuticals Inc has a fifty-two week low of $12.33 and a fifty-two week high of $30.71.

Concert Pharmaceuticals (NASDAQ:CNCE) last posted its quarterly earnings results on Thursday, August 2nd. The biotechnology company reported ($0.57) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.62) by $0.05. Concert Pharmaceuticals had a net margin of 67.52% and a negative return on equity of 19.73%. On average, equities analysts expect that Concert Pharmaceuticals Inc will post -2.06 earnings per share for the current fiscal year.

Several analysts have issued reports on the stock. ValuEngine raised shares of Concert Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, October 16th. BidaskClub downgraded shares of Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, July 17th. HC Wainwright reaffirmed a “buy” rating on shares of Concert Pharmaceuticals in a research note on Friday, August 3rd. Zacks Investment Research downgraded shares of Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. Finally, Mizuho reaffirmed a “buy” rating and set a $27.00 price target on shares of Concert Pharmaceuticals in a research note on Thursday, August 2nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Concert Pharmaceuticals has an average rating of “Buy” and an average price target of $26.80.

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.

Featured Story: Conference Calls

Institutional Ownership by Quarter for Concert Pharmaceuticals (NASDAQ:CNCE)

Receive News & Ratings for Concert Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Concert Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply