Concert Pharmaceuticals, Inc. (CNCE) Rating Increased to Hold at Zacks Investment Research
Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
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 topic of a number of other research reports. ValuEngine upgraded shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. HC Wainwright restated a “buy” rating and issued a $21.00 price objective on shares of Concert Pharmaceuticals in a research report on Friday, October 20th. BidaskClub cut shares of Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Mizuho started coverage on shares of Concert Pharmaceuticals in a research report on Thursday, October 26th. They issued a “buy” rating and a $23.00 price objective on the stock. Finally, Stifel Nicolaus restated a “buy” rating and issued a $30.00 price objective on shares of Concert Pharmaceuticals in a research report on Sunday, October 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Concert Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $23.00.
Shares of Concert Pharmaceuticals (NASDAQ:CNCE) traded up $0.09 during trading hours on Wednesday, reaching $18.66. 268,000 shares of the company were exchanged, compared to its average volume of 234,968. Concert Pharmaceuticals has a one year low of $7.11 and a one year high of $19.31.
In related news, insider Ryan Lynch sold 3,500 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $14.51, for a total transaction of $50,785.00. Following the transaction, the insider now owns 9,500 shares in the company, valued at $137,845. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Value Fund L. P. Biotechnology purchased 331,916 shares of Concert Pharmaceuticals stock in a transaction that occurred on Thursday, October 19th. The shares were bought at an average price of $15.84 per share, for a total transaction of $5,257,549.44. The disclosure for this purchase can be found here. 10.10% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. American International Group Inc. increased its position in shares of Concert Pharmaceuticals by 7.1% during the first quarter. American International Group Inc. now owns 10,156 shares of the biotechnology company’s stock valued at $173,000 after buying an additional 677 shares during the period. SG Americas Securities LLC purchased a new position in shares of Concert Pharmaceuticals during the third quarter valued at about $153,000. Alliancebernstein L.P. purchased a new position in shares of Concert Pharmaceuticals during the second quarter valued at about $174,000. State of Wisconsin Investment Board purchased a new position in shares of Concert Pharmaceuticals during the second quarter valued at about $181,000. Finally, Princeton Capital Management Inc. purchased a new position in shares of Concert Pharmaceuticals during the third quarter valued at about $215,000. Institutional investors own 62.51% 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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