Concert Pharmaceuticals (CNCE) Downgraded by Zacks Investment Research
Concert Pharmaceuticals (NASDAQ:CNCE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors 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. “
Other equities research analysts have also recently issued research reports about the company. TheStreet upgraded Concert Pharmaceuticals from a “c+” rating to a “b-” rating in a report on Monday, January 8th. Stifel Nicolaus reiterated a “buy” rating and issued a $27.00 price objective on shares of Concert Pharmaceuticals in a report on Friday, January 12th. BidaskClub upgraded Concert Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, February 9th. UBS Group set a $34.00 price objective on Concert Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, December 19th. Finally, HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective on shares of Concert Pharmaceuticals in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Concert Pharmaceuticals has a consensus rating of “Buy” and an average target price of $25.00.
Concert Pharmaceuticals (NASDAQ:CNCE) last released its quarterly earnings data on Thursday, March 1st. The biotechnology company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.08). Concert Pharmaceuticals had a negative return on equity of 43.12% and a net margin of 66.47%. The business had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $8.11 million. sell-side analysts predict that Concert Pharmaceuticals will post -2.35 EPS for the current fiscal year.
In other news, Director Richard Aldrich sold 11,946 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $20.89, for a total value of $249,551.94. Following the completion of the transaction, the director now owns 286,975 shares in the company, valued at approximately $5,994,907.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Value Fund L. P. Biotechnology sold 1,282,856 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $26.65, for a total value of $34,188,112.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,433,248 shares of company stock valued at $37,226,329. 10.10% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CNCE. Vanguard Group Inc. raised its stake in Concert Pharmaceuticals by 11.0% during the second quarter. Vanguard Group Inc. now owns 756,513 shares of the biotechnology company’s stock valued at $10,553,000 after buying an additional 74,801 shares during the last quarter. Northern Trust Corp raised its stake in Concert Pharmaceuticals by 11.2% during the second quarter. Northern Trust Corp now owns 243,989 shares of the biotechnology company’s stock valued at $3,403,000 after buying an additional 24,622 shares during the last quarter. State Street Corp raised its stake in Concert Pharmaceuticals by 9.5% during the second quarter. State Street Corp now owns 300,093 shares of the biotechnology company’s stock valued at $4,186,000 after buying an additional 26,024 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Concert Pharmaceuticals during the third quarter valued at $843,000. Finally, Schwab Charles Investment Management Inc. raised its stake in Concert Pharmaceuticals by 47.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 32,122 shares of the biotechnology company’s stock valued at $449,000 after buying an additional 10,400 shares during the last quarter. Institutional investors own 76.61% of the company’s stock.
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About Concert Pharmaceuticals
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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