Concert Pharmaceuticals (CNCE) Given Consensus Rating of “Buy” by Brokerages

Concert Pharmaceuticals (NASDAQ:CNCE) has earned a consensus recommendation of “Buy” from the nine analysts that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $27.80.

Several research analysts have commented on CNCE shares. BidaskClub upgraded shares of Concert Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, February 9th. HC Wainwright reiterated a “buy” rating and set a $25.00 price target (up previously from $21.00) on shares of Concert Pharmaceuticals in a report on Friday, March 2nd. Mizuho upgraded shares of Concert Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $23.00 to $27.00 in a report on Friday, March 9th. ValuEngine upgraded shares of Concert Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, April 3rd. Finally, Zacks Investment Research upgraded shares of Concert Pharmaceuticals from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Tuesday, May 1st.

NASDAQ CNCE traded up $1.32 on Monday, hitting $20.54. 310,096 shares of the stock were exchanged, compared to its average volume of 348,275. Concert Pharmaceuticals has a fifty-two week low of $19.46 and a fifty-two week high of $20.71. The stock has a market capitalization of $449.67 million, a PE ratio of 4.71 and a beta of 1.05.

Concert Pharmaceuticals (NASDAQ:CNCE) last posted its quarterly earnings results on Thursday, May 3rd. The biotechnology company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.39. Concert Pharmaceuticals had a net margin of 67.71% and a negative return on equity of 23.57%. The company had revenue of $10.48 million during the quarter. sell-side analysts predict that Concert Pharmaceuticals will post -2.21 earnings per share for the current year.

In other news, insider James V. Cassella sold 10,582 shares of the company’s stock in a transaction on Tuesday, April 17th. The shares were sold at an average price of $20.18, for a total value of $213,544.76. Following the completion of the transaction, the insider now owns 30,000 shares in the company, valued at approximately $605,400. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 9.40% of the company’s stock.

Several institutional investors have recently modified their holdings of CNCE. Convergence Investment Partners LLC acquired a new position in shares of Concert Pharmaceuticals in the 4th quarter valued at $718,000. Schwab Charles Investment Management Inc. boosted its holdings in shares of Concert Pharmaceuticals by 14.0% in the 4th 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. Acadian Asset Management LLC acquired a new position in shares of Concert Pharmaceuticals in the 4th quarter valued at $7,713,000. Ingalls & Snyder LLC boosted its holdings in shares of Concert Pharmaceuticals by 8.7% in the 4th quarter. Ingalls & Snyder LLC now owns 1,314,562 shares of the biotechnology company’s stock valued at $34,008,000 after buying an additional 105,500 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Concert Pharmaceuticals by 213.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,650 shares of the biotechnology company’s stock valued at $404,000 after buying an additional 10,650 shares in the last quarter. Institutional investors and hedge funds own 73.76% of the company’s stock.

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.

Analyst Recommendations for Concert Pharmaceuticals (NASDAQ:CNCE)

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