Shares of Concert Pharmaceuticals Inc. (NASDAQ:CNCE) dropped 2.6% on Monday . The stock traded as low as $11.64 and last traded at $11.69, with a volume of 67,768 shares. The stock had previously closed at $12.00.

A number of brokerages have commented on CNCE. Brean Capital reiterated a “buy” rating on shares of Concert Pharmaceuticals in a report on Saturday, April 30th. Zacks Investment Research upgraded shares of Concert Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 4th. Finally, Stifel Nicolaus initiated coverage on shares of Concert Pharmaceuticals in a report on Friday, July 1st. They issued a “buy” rating and a $23.00 target price on the stock. Two investment analysts have rated the stock with a sell rating and six have issued a buy rating to the company. Concert Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $26.43.

The stock has a market cap of $258.82 million and a price-to-earnings ratio of 13.99. The stock has a 50 day moving average of $11.52 and a 200-day moving average of $12.90.

Concert Pharmaceuticals (NASDAQ:CNCE) last posted its earnings results on Thursday, May 5th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.45) by $0.18. On average, equities analysts anticipate that Concert Pharmaceuticals Inc. will post ($2.16) earnings per share for the current fiscal year.

In related news, CEO Roger D. Tung purchased 19,610 shares of Concert Pharmaceuticals stock in a transaction dated Wednesday, May 11th. The shares were acquired at an average price of $10.55 per share, for a total transaction of $206,885.50. Following the acquisition, the chief executive officer now directly owns 538,965 shares in the company, valued at $5,686,080.75. The purchase was disclosed in a filing with the SEC, which is available through this link.

An institutional investor recently raised its position in Concert Pharmaceuticals stock. California Public Employees Retirement System raised its position in Concert Pharmaceuticals Inc. (NASDAQ:CNCE) by 22.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,700 shares of the company’s stock after buying an additional 18,700 shares during the period. California Public Employees Retirement System owned approximately 0.47% of Concert Pharmaceuticals worth $1,967,000 at the end of the most recent reporting period.

Concert Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery and development of small molecule drugs. The Company operates through the development of pharmaceutical products on its own behalf or in collaboration with others segment. It has clinical candidates under development, including AVP-786, CTP-656, CTP-730 and JZP-386.

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