Northern Trust Corp lifted its position in Concert Pharmaceuticals Inc (NASDAQ:CNCE) by 5.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 673,466 shares of the biotechnology company’s stock after purchasing an additional 37,369 shares during the quarter. Northern Trust Corp’s holdings in Concert Pharmaceuticals were worth $11,335,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in Concert Pharmaceuticals by 8.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 170,848 shares of the biotechnology company’s stock valued at $2,876,000 after buying an additional 13,204 shares during the last quarter. California Public Employees Retirement System grew its holdings in Concert Pharmaceuticals by 3.6% during the 2nd quarter. California Public Employees Retirement System now owns 88,079 shares of the biotechnology company’s stock valued at $1,482,000 after buying an additional 3,079 shares during the last quarter. Millennium Management LLC grew its holdings in Concert Pharmaceuticals by 52.6% during the 2nd quarter. Millennium Management LLC now owns 659,152 shares of the biotechnology company’s stock valued at $11,094,000 after buying an additional 227,269 shares during the last quarter. Macquarie Group Ltd. grew its holdings in Concert Pharmaceuticals by 90.4% during the 2nd quarter. Macquarie Group Ltd. now owns 49,500 shares of the biotechnology company’s stock valued at $833,000 after buying an additional 23,500 shares during the last quarter. Finally, Capital Fund Management S.A. acquired a new stake in Concert Pharmaceuticals during the 2nd quarter valued at $244,000. 75.88% of the stock is owned by hedge funds and other institutional investors.

CNCE stock opened at $16.06 on Friday. Concert Pharmaceuticals Inc has a 52-week low of $12.33 and a 52-week high of $30.71. The firm has a market cap of $370.89 million, a PE ratio of 3.94 and a beta of 0.89.

Concert Pharmaceuticals (NASDAQ:CNCE) last posted its quarterly earnings data on Thursday, November 1st. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.12). Concert Pharmaceuticals had a negative return on equity of 20.81% and a negative net margin of 392.62%. The business had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.02 million. Research analysts expect that Concert Pharmaceuticals Inc will post -2.25 EPS for the current fiscal year.

A number of equities research analysts have commented on CNCE shares. BidaskClub cut Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, July 17th. ValuEngine cut Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Zacks Investment Research cut Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Janney Montgomery Scott started coverage on Concert Pharmaceuticals in a report on Thursday, September 13th. They set a “neutral” rating on the stock. Finally, HC Wainwright reiterated a “buy” rating on shares of Concert Pharmaceuticals in a report on Friday, August 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $26.80.

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Concert Pharmaceuticals Company Profile

Concert Pharmaceuticals, Inc operates as a clinical stage biopharmaceutical company. The company discovers and develops novel small molecule drugs for use in the treatment of various pulmonary diseases, including autoimmune and inflammatory diseases, and central nervous systems disorders. Its product candidates include AVP-786, a combination of deudextromethorphan and an ultra-low dose of quinidine, which is in Phase 3 clinical trials for the treatment of neurologic and psychiatric disorders, including agitation associated with Alzheimer's disease; CTP-730, a deuterated analog of apremilast that has completed the Phase 1 clinical trials for the treatment of inflammation or cancer; JZP-386, which has completed the Phase 1 clinical trials for the treatment of patients with narcolepsy; and CTP-543, which is in Phase 1 clinical trials for use in the treatment of alopecia areata.

Further Reading: Cost of Capital

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Institutional Ownership by Quarter for Concert Pharmaceuticals (NASDAQ:CNCE)

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