ValuEngine Lowers Concert Pharmaceuticals (CNCE) to Buy

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ValuEngine cut shares of Concert Pharmaceuticals (NASDAQ:CNCE) from a strong-buy rating to a buy rating in a research note released on Tuesday morning.

Several other analysts have also recently weighed in on CNCE. TheStreet cut shares of Concert Pharmaceuticals from a b- rating to a c rating in a report on Thursday, March 29th. Zacks Investment Research cut shares of Concert Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, May 2nd. HC Wainwright raised their target price on shares of Concert Pharmaceuticals from $25.00 to $26.00 and gave the company a buy rating in a report on Friday, May 4th. BidaskClub cut shares of Concert Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, March 28th. Finally, Mizuho reaffirmed a hold rating and issued a $23.00 target price on shares of Concert Pharmaceuticals in a report on Thursday, March 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $26.80.

Shares of Concert Pharmaceuticals opened at $17.09 on Tuesday, MarketBeat Ratings reports. Concert Pharmaceuticals has a one year low of $12.67 and a one year high of $30.71. The stock has a market capitalization of $398.43 million, a PE ratio of 4.19 and a beta of 1.08.

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

In other Concert Pharmaceuticals news, insider James V. Cassella sold 10,582 shares of the firm’s stock in a transaction that occurred on Tuesday, April 17th. The shares were sold at an average price of $20.18, for a total transaction of $213,544.76. Following the sale, the insider now owns 30,000 shares of the company’s stock, valued at $605,400. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.40% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co. NY acquired a new stake in Concert Pharmaceuticals during the fourth quarter worth approximately $164,000. MetLife Investment Advisors LLC acquired a new stake in Concert Pharmaceuticals during the fourth quarter worth approximately $232,000. DekaBank Deutsche Girozentrale acquired a new stake in Concert Pharmaceuticals during the first quarter worth approximately $197,000. Tyers Asset Management LLC acquired a new stake in Concert Pharmaceuticals during the first quarter worth approximately $236,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in Concert Pharmaceuticals during the fourth quarter worth approximately $329,000. 74.35% of the stock is currently owned by institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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