Concert Pharmaceuticals (CNCE) Announces Quarterly Earnings Results, Misses Expectations By $0.31 EPS

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Concert Pharmaceuticals (NASDAQ:CNCE) announced its quarterly earnings data on Thursday. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.31), MarketWatch Earnings reports. Concert Pharmaceuticals had a negative net margin of 533.31% and a negative return on equity of 29.33%. The business had revenue of $1.01 million for the quarter, compared to analysts’ expectations of $16.08 million.

NASDAQ CNCE traded up $0.69 during trading hours on Friday, hitting $10.65. 229,600 shares of the company’s stock traded hands, compared to its average volume of 249,256. Concert Pharmaceuticals has a 52-week low of $9.21 and a 52-week high of $21.00. The stock has a market cap of $234.35 million, a PE ratio of -4.44 and a beta of 0.89.

Several analysts recently issued reports on the stock. Zacks Investment Research cut shares of Concert Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 5th. BidaskClub raised shares of Concert Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 6th. TheStreet cut shares of Concert Pharmaceuticals from a “c-” rating to a “d” rating in a research note on Friday, March 1st. HC Wainwright reaffirmed a “buy” rating on shares of Concert Pharmaceuticals in a research note on Friday, March 1st. Finally, ValuEngine cut shares of Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, January 4th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Concert Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $20.00.

A number of hedge funds and other institutional investors have recently made changes to their positions in CNCE. Wells Fargo & Company MN grew its stake in shares of Concert Pharmaceuticals by 18.2% in the 3rd quarter. Wells Fargo & Company MN now owns 86,243 shares of the biotechnology company’s stock valued at $1,279,000 after buying an additional 13,304 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Concert Pharmaceuticals by 23.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 186,831 shares of the biotechnology company’s stock valued at $2,773,000 after buying an additional 34,920 shares during the period. Vanguard Group Inc grew its stake in shares of Concert Pharmaceuticals by 8.1% in the 3rd quarter. Vanguard Group Inc now owns 1,225,849 shares of the biotechnology company’s stock valued at $18,192,000 after buying an additional 91,659 shares during the period. Prudential Financial Inc. grew its stake in shares of Concert Pharmaceuticals by 2.0% in the 4th quarter. Prudential Financial Inc. now owns 81,616 shares of the biotechnology company’s stock valued at $1,024,000 after buying an additional 1,610 shares during the period. Finally, Great West Life Assurance Co. Can purchased a new stake in shares of Concert Pharmaceuticals in the 4th quarter valued at approximately $48,000. 72.75% of the stock is owned by institutional investors.

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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 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, a once-nightly oxybate product; and CTP-543, which is in Phase 1 clinical trials for use in the treatment of alopecia areata.

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Earnings History for Concert Pharmaceuticals (NASDAQ:CNCE)

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