Concert Pharmaceuticals (NASDAQ:CNCE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, February 5th.
According to Zacks, “Concert Pharmaceuticals Inc. is a biopharmaceutical company. It is focused on applying its DCE Platform (R) to create novel small molecule drugs. The Company manufactures drugs in various therapeutic areas such as hot flashes, HIV, renal hepatic, neuropathic pain, MRSA infection, and schizophrenia, multiple tumors, and hyperparathyroidism. Concert Pharmaceuticals Inc. is based in United States. “
A number of other research analysts also recently commented on CNCE. Mizuho reaffirmed a “hold” rating and set a $23.00 price objective on shares of Concert Pharmaceuticals in a research report on Thursday, February 1st. ValuEngine raised shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. HC Wainwright reaffirmed a “buy” rating and set a $21.00 price objective on shares of Concert Pharmaceuticals in a research report on Friday, November 10th. Stifel Nicolaus reaffirmed a “buy” rating and set a $30.00 price objective on shares of Concert Pharmaceuticals in a research report on Sunday, October 22nd. Finally, TheStreet raised shares of Concert Pharmaceuticals from a “c+” rating to a “b-” rating in a research report on Monday, January 8th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $24.33.
In other Concert Pharmaceuticals news, insider Value Fund L. P. Biotechnology sold 1,282,856 shares of Concert Pharmaceuticals stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $26.65, for a total value of $34,188,112.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Aldrich sold 11,946 shares of Concert Pharmaceuticals stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $20.89, for a total transaction of $249,551.94. Following the completion of the sale, the director now owns 286,975 shares of the company’s stock, valued at $5,994,907.75. The disclosure for this sale can be found here. Insiders sold 1,433,248 shares of company stock valued at $37,226,329 over the last quarter. Corporate insiders own 10.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Metropolitan Life Insurance Co. NY acquired a new stake in Concert Pharmaceuticals in the fourth quarter valued at approximately $164,000. SG Americas Securities LLC acquired a new stake in Concert Pharmaceuticals in the third quarter valued at approximately $153,000. Alliancebernstein L.P. acquired a new stake in Concert Pharmaceuticals in the second quarter valued at approximately $174,000. Princeton Capital Management Inc. acquired a new stake in Concert Pharmaceuticals in the third quarter valued at approximately $215,000. Finally, The Manufacturers Life Insurance Company lifted its stake in 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 acquiring an additional 287 shares during the last quarter. Hedge funds and other institutional investors own 67.44% of the company’s stock.
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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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