A number of other analysts have also issued reports on the company. Zacks Investment Research upgraded Concert Pharmaceuticals from a hold rating to a buy rating and set a $11.00 price target for the company in a report on Wednesday, August 7th. BidaskClub upgraded Concert Pharmaceuticals from a sell rating to a hold rating in a report on Thursday, September 5th. HC Wainwright reiterated a buy rating and issued a $29.00 price target on shares of Concert Pharmaceuticals in a report on Friday, August 2nd. Janney Montgomery Scott set a $16.00 price target on Concert Pharmaceuticals and gave the company a buy rating in a report on Wednesday, September 4th. Finally, SunTrust Banks assumed coverage on Concert Pharmaceuticals in a report on Monday, June 24th. They issued a buy rating and a $30.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Concert Pharmaceuticals presently has a consensus rating of Buy and an average price target of $20.75.
Shares of NASDAQ:CNCE traded up $0.26 during trading hours on Thursday, hitting $10.74. 11,038 shares of the company’s stock traded hands, compared to its average volume of 113,991. Concert Pharmaceuticals has a 1 year low of $9.21 and a 1 year high of $17.83. The business has a fifty day moving average price of $10.45 and a 200-day moving average price of $11.62. The firm has a market capitalization of $261.56 million, a P/E ratio of -4.37 and a beta of 0.82. The company has a debt-to-equity ratio of 0.12, a current ratio of 19.63 and a quick ratio of 19.63.
Concert Pharmaceuticals (NASDAQ:CNCE) last announced its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.78) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.14. The firm had revenue of $0.05 million during the quarter, compared to analyst estimates of $0.30 million. Concert Pharmaceuticals had a negative return on equity of 49.44% and a negative net margin of 7,303.34%. As a group, equities analysts predict that Concert Pharmaceuticals will post -3.45 earnings per share for the current year.
In related news, Director Peter Barton Hutt sold 3,539 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $10.31, for a total value of $36,487.09. Following the completion of the sale, the director now owns 7,963 shares in the company, valued at $82,098.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.00% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the stock. International Biotechnology Trust PLC acquired a new position in shares of Concert Pharmaceuticals during the second quarter worth $839,000. Nuveen Asset Management LLC purchased a new stake in shares of Concert Pharmaceuticals during the second quarter valued at $5,523,000. D. E. Shaw & Co. Inc. boosted its holdings in Concert Pharmaceuticals by 18.1% in the second quarter. D. E. Shaw & Co. Inc. now owns 50,969 shares of the biotechnology company’s stock valued at $612,000 after purchasing an additional 7,812 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in Concert Pharmaceuticals by 70.9% in the second quarter. Cubist Systematic Strategies LLC now owns 18,235 shares of the biotechnology company’s stock valued at $219,000 after purchasing an additional 7,563 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in Concert Pharmaceuticals in the second quarter valued at $1,223,000. 70.74% of the stock is owned by institutional investors.
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 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, a once-nightly oxybate product; and CTP-543, which is in Phase 1 clinical trials for use in the treatment of alopecia areata.
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