Concert Pharmaceuticals (NASDAQ:CNCE)‘s stock had its “buy” rating reaffirmed by Stifel Nicolaus in a report issued on Friday, January 12th. They currently have a $27.00 price objective on the biotechnology company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 37.68% from the company’s previous close.
Several other equities research analysts have also issued reports on the company. TheStreet raised Concert Pharmaceuticals from a “c+” rating to a “b-” rating in a research note on Monday, January 8th. HC Wainwright reaffirmed a “buy” rating and set a $21.00 price target on shares of Concert Pharmaceuticals in a research note on Friday, November 10th. Mizuho started coverage on Concert Pharmaceuticals in a research note on Thursday, October 26th. They set a “buy” rating and a $23.00 price target for the company. Zacks Investment Research raised Concert Pharmaceuticals from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Monday, September 18th. Finally, UBS Group set a $34.00 price target on Concert Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $24.33.
Concert Pharmaceuticals (NASDAQ CNCE) traded down $0.10 during trading hours on Friday, reaching $19.61. The company had a trading volume of 520,386 shares, compared to its average volume of 613,525. The company has a market capitalization of $444.31, a price-to-earnings ratio of 5.23 and a beta of 1.67. Concert Pharmaceuticals has a 12 month low of $8.61 and a 12 month high of $30.71.
In related news, Director Richard Aldrich sold 30,000 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $19.35, for a total transaction of $580,500.00. Following the transaction, the director now owns 286,975 shares in the company, valued at approximately $5,552,966.25. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Value Fund L. P. Biotechnology sold 1,282,856 shares of the business’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $26.65, for a total value of $34,188,112.40. The disclosure for this sale can be found here. In the last three months, insiders sold 1,358,248 shares of company stock valued at $35,716,123. 10.10% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Ingalls & Snyder LLC increased its holdings in Concert Pharmaceuticals by 8.7% during the 4th quarter. Ingalls & Snyder LLC now owns 1,314,562 shares of the biotechnology company’s stock valued at $34,008,000 after purchasing an additional 105,500 shares during the period. Vanguard Group Inc. increased its holdings in Concert Pharmaceuticals by 11.0% during the 2nd quarter. Vanguard Group Inc. now owns 756,513 shares of the biotechnology company’s stock valued at $10,553,000 after purchasing an additional 74,801 shares during the period. Citadel Advisors LLC purchased a new position in Concert Pharmaceuticals during the 2nd quarter valued at about $6,634,000. Lyon Street Capital LLC increased its holdings in Concert Pharmaceuticals by 6.5% during the 3rd quarter. Lyon Street Capital LLC now owns 463,064 shares of the biotechnology company’s stock valued at $6,830,000 after purchasing an additional 28,312 shares during the period. Finally, Alyeska Investment Group L.P. increased its holdings in Concert Pharmaceuticals by 1.8% during the 3rd quarter. Alyeska Investment Group L.P. now owns 368,243 shares of the biotechnology company’s stock valued at $5,432,000 after purchasing an additional 6,576 shares during the period. Institutional investors own 65.29% of the company’s stock.
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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.
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