Wall Street brokerages forecast that Concert Pharmaceuticals (NASDAQ:CNCE) will announce $20,000.00 in sales for the current quarter, Zacks reports. Two analysts have made estimates for Concert Pharmaceuticals’ earnings. Concert Pharmaceuticals also posted sales of $20,000.00 in the same quarter last year. The firm is scheduled to announce its next quarterly earnings report on Tuesday, May 1st.
On average, analysts expect that Concert Pharmaceuticals will report full year sales of $70,000.00 for the current financial year, with estimates ranging from $60,000.00 to $80,000.00. For the next fiscal year, analysts forecast that the firm 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 a mean average based on a survey of research analysts that follow Concert Pharmaceuticals.
Concert Pharmaceuticals (NASDAQ:CNCE) last released its quarterly earnings results on Thursday, March 1st. The biotechnology company reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.08). Concert Pharmaceuticals had a negative return on equity of 36.25% and a net margin of 66.47%. The business had revenue of $0.01 million during the quarter, compared to analyst estimates of $8.11 million.
In other Concert Pharmaceuticals news, Director Richard Aldrich sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $20.46, for a total transaction of $102,300.00. Following the sale, the director now owns 286,975 shares in the company, valued at $5,871,508.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 105,000 shares of company stock worth $2,090,706 in the last 90 days. 10.10% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Alps Advisors Inc. raised its stake in Concert Pharmaceuticals by 12.5% during the fourth quarter. Alps Advisors Inc. now owns 25,139 shares of the biotechnology company’s stock valued at $650,000 after buying an additional 2,796 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Concert Pharmaceuticals by 14.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 36,621 shares of the biotechnology company’s stock valued at $948,000 after buying an additional 4,499 shares in the last quarter. Metropolitan Life Insurance Co. NY acquired a new stake in Concert Pharmaceuticals during the fourth quarter valued at approximately $164,000. MetLife Investment Advisors LLC acquired a new stake in Concert Pharmaceuticals during the fourth quarter valued at approximately $232,000. Finally, SG Americas Securities LLC acquired a new stake in Concert Pharmaceuticals during the third quarter valued at approximately $153,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.
NASDAQ:CNCE opened at $20.16 on Wednesday. Concert Pharmaceuticals has a one year low of $11.88 and a one year high of $30.71. The stock has a market capitalization of $460.95, a P/E ratio of 4.94 and a beta of 1.01.
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About Concert Pharmaceuticals
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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