Zacks Investment Research downgraded shares of Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) from a buy rating to a hold rating in a report published on Friday.

According to Zacks, “Concert Pharmaceuticals Inc. is a biopharmaceutical company. It is focused on applying its DCE Platform (R) to create novel small molecule drugs. The Company manufactures drugs in various therapeutic areas such as hot flashes, HIV, renal hepatic, neuropathic pain, MRSA infection, and schizophrenia, multiple tumors, and hyperparathyroidism. Concert Pharmaceuticals Inc. is based in United States. “

CNCE has been the subject of a number of other reports. HC Wainwright initiated coverage on Concert Pharmaceuticals in a research report on Monday, July 24th. They issued a buy rating and a $20.00 price target for the company. ValuEngine upgraded Concert Pharmaceuticals from a sell rating to a hold rating in a research report on Friday, September 1st. Aegis restated a buy rating and issued a $25.00 price target on shares of Concert Pharmaceuticals in a research report on Monday, June 12th. BidaskClub downgraded Concert Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, July 12th. Finally, Stifel Nicolaus reiterated a buy rating and set a $30.00 target price (down from $31.00) on shares of Concert Pharmaceuticals in a research report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $24.60.

Shares of Concert Pharmaceuticals (NASDAQ CNCE) opened at 14.04 on Friday. The company’s market capitalization is $318.53 million. Concert Pharmaceuticals has a 12-month low of $7.11 and a 12-month high of $19.11. The company’s 50-day moving average is $14.62 and its 200-day moving average is $14.98.

Concert Pharmaceuticals (NASDAQ:CNCE) last issued its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.58) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.04. The company had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.20 million. Concert Pharmaceuticals had a negative return on equity of 61.98% and a negative net margin of 60,681.70%. Analysts predict that Concert Pharmaceuticals will post ($2.18) EPS for the current year.

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In related news, insider Ryan Lynch sold 3,500 shares of Concert Pharmaceuticals stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $14.51, for a total value of $50,785.00. Following the completion of the sale, the insider now directly owns 9,500 shares in the company, valued at $137,845. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.10% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. raised its holdings in shares of Concert Pharmaceuticals by 6.3% in the second quarter. Alps Advisors Inc. now owns 20,362 shares of the biotechnology company’s stock valued at $284,000 after acquiring an additional 1,200 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of Concert Pharmaceuticals by 26.2% in the first quarter. Prudential Financial Inc. now owns 253,130 shares of the biotechnology company’s stock valued at $4,319,000 after acquiring an additional 52,500 shares in the last quarter. Paulson & CO. Inc. bought a new stake in shares of Concert Pharmaceuticals in the first quarter valued at about $1,198,000. JPMorgan Chase & Co. raised its holdings in shares of Concert Pharmaceuticals by 27.5% in the first quarter. JPMorgan Chase & Co. now owns 52,783 shares of the biotechnology company’s stock valued at $900,000 after acquiring an additional 11,392 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Concert Pharmaceuticals by 143.2% in the first quarter. Goldman Sachs Group Inc. now owns 32,349 shares of the biotechnology company’s stock valued at $552,000 after acquiring an additional 19,046 shares in the last quarter. Hedge funds and other institutional investors own 61.62% of the company’s stock.

Concert Pharmaceuticals Company Profile

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. The Company’s deuterated chemical entity platform (DCE Platform), has potential across various therapeutic areas.

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