Q2 2022 EPS Estimates for Concert Pharmaceuticals, Inc. Lifted by Jefferies Financial Group (NASDAQ:CNCE)

Concert Pharmaceuticals, Inc. (NASDAQ:CNCE – Get Rating) – Research analysts at Jefferies Financial Group upped their Q2 2022 earnings per share estimates for shares of Concert Pharmaceuticals in a research note issued to investors on Monday, August 1st. Jefferies Financial Group analyst M. Raycroft now forecasts that the biotechnology company will post earnings of ($0.71) per share for the quarter, up from their prior estimate of ($0.89). The consensus estimate for Concert Pharmaceuticals’ current full-year earnings is ($3.47) per share. Jefferies Financial Group also issued estimates for Concert Pharmaceuticals’ Q3 2022 earnings at ($0.64) EPS, Q4 2022 earnings at ($0.59) EPS, FY2022 earnings at ($2.90) EPS, FY2023 earnings at ($2.07) EPS, FY2024 earnings at ($2.70) EPS and FY2025 earnings at ($1.53) EPS.

Separately, StockNews.com began coverage on Concert Pharmaceuticals in a research note on Wednesday, June 15th. They issued a “hold” rating on the stock.

Concert Pharmaceuticals Stock Performance

Shares of NASDAQ:CNCE opened at $6.13 on Thursday. Concert Pharmaceuticals has a 52-week low of $2.57 and a 52-week high of $6.88. The firm has a market capitalization of $222.70 million, a P/E ratio of -2.30 and a beta of 0.69. The stock has a 50 day moving average price of $4.85 and a 200-day moving average price of $3.88.

Concert Pharmaceuticals (NASDAQ:CNCE – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The biotechnology company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.07). Concert Pharmaceuticals had a negative net margin of 245.72% and a negative return on equity of 89.48%. During the same period in the prior year, the business posted ($0.67) EPS.

Insider Activity

In other Concert Pharmaceuticals news, Director Heek Christi Van purchased 10,526 shares of the firm’s stock in a transaction on Monday, June 6th. The shares were acquired at an average cost of $4.75 per share, with a total value of $49,998.50. Following the completion of the acquisition, the director now directly owns 25,651 shares in the company, valued at $121,842.25. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 11.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CNCE. Bank of America Corp DE boosted its position in shares of Concert Pharmaceuticals by 0.8% during the fourth quarter. Bank of America Corp DE now owns 1,007,258 shares of the biotechnology company’s stock valued at $3,173,000 after buying an additional 8,004 shares during the period. Acadian Asset Management LLC raised its stake in Concert Pharmaceuticals by 11.8% in the fourth quarter. Acadian Asset Management LLC now owns 782,813 shares of the biotechnology company’s stock worth $2,465,000 after buying an additional 82,473 shares in the last quarter. Kensington Investment Counsel LLC bought a new position in Concert Pharmaceuticals in the fourth quarter worth approximately $269,000. Roanoke Asset Management Corp NY bought a new position in Concert Pharmaceuticals in the first quarter worth approximately $34,000. Finally, Dimensional Fund Advisors LP grew its holdings in Concert Pharmaceuticals by 8.9% in the first quarter. Dimensional Fund Advisors LP now owns 778,596 shares of the biotechnology company’s stock worth $2,624,000 after purchasing an additional 63,860 shares during the last quarter. Hedge funds and other institutional investors own 51.26% of the company’s stock.

About Concert Pharmaceuticals

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Concert Pharmaceuticals, Inc operates as a clinical stage biopharmaceutical company that develops novel small molecule drugs for the treatment of autoimmune diseases. The company's lead product candidate is CTP-543, which is in Phase III clinical trial for the treatment of alopecia areata, a serious autoimmune dermatological condition.