Analysts Set Concert Pharmaceuticals Inc (CNCE) Target Price at $23.00

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Shares of Concert Pharmaceuticals Inc (NASDAQ:CNCE) have received an average recommendation of “Buy” from the eight research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $23.00.

A number of analysts have recently issued reports on CNCE shares. ValuEngine cut Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, January 4th. TheStreet cut Concert Pharmaceuticals from a “c-” rating to a “d” rating in a report on Friday, March 1st. HC Wainwright reiterated a “buy” rating on shares of Concert Pharmaceuticals in a report on Friday, March 1st. Zacks Investment Research cut Concert Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 5th. Finally, BidaskClub upgraded Concert Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 6th.

CNCE traded up $0.29 during midday trading on Friday, hitting $16.47. The company’s stock had a trading volume of 870,475 shares, compared to its average volume of 148,725. The stock has a market capitalization of $387.52 million, a price-to-earnings ratio of -6.86 and a beta of 1.03. Concert Pharmaceuticals has a 52-week low of $10.80 and a 52-week high of $24.19.

Concert Pharmaceuticals (NASDAQ:CNCE) last posted its quarterly earnings results on Thursday, February 28th. The biotechnology company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.15). Concert Pharmaceuticals had a negative net margin of 533.31% and a negative return on equity of 29.33%. Equities research analysts predict that Concert Pharmaceuticals will post -3.32 EPS for the current year.

Several large investors have recently modified their holdings of CNCE. Prudential Financial Inc. lifted its position in Concert Pharmaceuticals by 2.0% during the 4th quarter. Prudential Financial Inc. now owns 81,616 shares of the biotechnology company’s stock worth $1,024,000 after acquiring an additional 1,610 shares in the last quarter. Great West Life Assurance Co. Can acquired a new position in Concert Pharmaceuticals during the 4th quarter worth approximately $48,000. California Public Employees Retirement System lifted its position in Concert Pharmaceuticals by 5.7% during the 4th quarter. California Public Employees Retirement System now owns 89,279 shares of the biotechnology company’s stock worth $1,120,000 after acquiring an additional 4,800 shares in the last quarter. MetLife Investment Advisors LLC lifted its position in Concert Pharmaceuticals by 55.5% during the 3rd quarter. MetLife Investment Advisors LLC now owns 13,953 shares of the biotechnology company’s stock worth $207,000 after acquiring an additional 4,980 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its position in Concert Pharmaceuticals by 452.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,553 shares of the biotechnology company’s stock worth $95,000 after acquiring an additional 6,185 shares in the last quarter. Institutional investors and hedge funds own 75.73% of the company’s stock.

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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