Mizuho Reiterates Buy Rating for Concert Pharmaceuticals (NASDAQ:CNCE)
Concert Pharmaceuticals (NASDAQ:CNCE)‘s stock had its “buy” rating restated by equities research analysts at Mizuho in a research note issued on Monday, AnalystRatings.com reports. They presently have a $18.00 price target on the biotechnology company’s stock. Mizuho’s price target indicates a potential upside of 73.58% from the company’s current price.
Several other equities analysts have also weighed in on CNCE. Zacks Investment Research raised shares of Concert Pharmaceuticals from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Tuesday, August 11th. BidaskClub lowered shares of Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $18.43.
Shares of CNCE opened at $10.37 on Monday. The firm’s 50 day moving average price is $9.67 and its 200 day moving average price is $9.51. Concert Pharmaceuticals has a twelve month low of $5.36 and a twelve month high of $13.09.
In related news, COO Nancy Stuart sold 10,295 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $11.34, for a total transaction of $116,745.30. Following the transaction, the chief operating officer now owns 167,924 shares in the company, valued at approximately $1,904,258.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 10.10% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. Federated Hermes Inc. acquired a new position in Concert Pharmaceuticals during the 2nd quarter worth approximately $29,000. BNP Paribas Arbitrage SA raised its stake in Concert Pharmaceuticals by 55.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,116 shares of the biotechnology company’s stock valued at $72,000 after acquiring an additional 2,904 shares during the period. Citigroup Inc. raised its stake in Concert Pharmaceuticals by 64.1% in the 1st quarter. Citigroup Inc. now owns 8,424 shares of the biotechnology company’s stock valued at $74,000 after acquiring an additional 3,289 shares during the period. Deutsche Bank AG raised its stake in Concert Pharmaceuticals by 15.8% in the 1st quarter. Deutsche Bank AG now owns 9,799 shares of the biotechnology company’s stock valued at $87,000 after acquiring an additional 1,335 shares during the period. Finally, Windsor Creek Advisors LLC bought a new stake in Concert Pharmaceuticals in the 1st quarter valued at $120,000. 72.43% of the stock is owned by hedge funds and other institutional investors.
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 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, a once-nightly oxybate product; and CTP-543, which is in Phase 1 clinical trials for use in the treatment of alopecia areata.
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