Concert Pharmaceuticals Inc. (CNCE) Sees Large Volume Increase
Shares of Concert Pharmaceuticals Inc. (NASDAQ:CNCE) saw unusually-strong trading volume on Thursday . Approximately 207,459 shares traded hands during mid-day trading, an increase of 97% from the previous session’s volume of 105,186 shares.The stock last traded at $10.63 and had previously closed at $10.64.
A number of research analysts have weighed in on CNCE shares. Brean Capital reaffirmed a “buy” rating on shares of Concert Pharmaceuticals in a research note on Saturday, April 30th. Zacks Investment Research raised shares of Concert Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 4th. Finally, Stifel Nicolaus started coverage on shares of Concert Pharmaceuticals in a research note on Friday, July 1st. They issued a “buy” rating and a $23.00 price target on the stock. Two research analysts have rated the stock with a sell rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $26.43.
The firm’s market cap is $225.38 million. The stock’s 50 day moving average price is $11.44 and its 200-day moving average price is $12.52.
Concert Pharmaceuticals (NASDAQ:CNCE) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.03. Analysts predict that Concert Pharmaceuticals Inc. will post ($2.51) EPS for the current fiscal year.
An institutional investor recently raised its position in Concert Pharmaceuticals stock. Dimensional Fund Advisors LP boosted its position in shares of Concert Pharmaceuticals Inc. (NASDAQ:CNCE) by 405.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 224,348 shares of the company’s stock after buying an additional 179,998 shares during the period. Dimensional Fund Advisors LP owned approximately 1.02% of Concert Pharmaceuticals worth $4,256,000 at the end of the most recent quarter.
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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