Concert Pharmaceuticals Inc (CNCE) Receives Consensus Recommendation of “Buy” from Brokerages

Concert Pharmaceuticals Inc (NASDAQ:CNCE) has earned a consensus rating of “Buy” from the eight ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $23.00.

Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Concert Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 5th. BidaskClub raised shares of Concert Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 6th. TheStreet downgraded shares of Concert Pharmaceuticals from a “c-” rating to a “d” rating in a research note on Friday, March 1st. HC Wainwright reissued a “buy” rating on shares of Concert Pharmaceuticals in a research note on Friday, March 1st. Finally, ValuEngine raised shares of Concert Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, November 28th.

Shares of NASDAQ CNCE opened at $16.18 on Friday. The stock has a market capitalization of $389.17 million, a price-to-earnings ratio of -6.74 and a beta of 1.03. Concert Pharmaceuticals has a 1 year low of $10.80 and a 1 year high of $24.19.



Concert Pharmaceuticals (NASDAQ:CNCE) last announced its quarterly earnings data on Thursday, February 28th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.74) by ($0.15). Concert Pharmaceuticals had a negative return on equity of 29.33% and a negative net margin of 533.31%. On average, equities analysts forecast that Concert Pharmaceuticals will post -3.32 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in shares of Concert Pharmaceuticals by 5.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,129,166 shares of the biotechnology company’s stock worth $14,171,000 after acquiring an additional 59,671 shares during the period. Millennium Management LLC increased its position in shares of Concert Pharmaceuticals by 87.2% during the fourth quarter. Millennium Management LLC now owns 1,011,753 shares of the biotechnology company’s stock worth $12,698,000 after acquiring an additional 471,312 shares during the period. RTW Investments LP purchased a new position in shares of Concert Pharmaceuticals during the fourth quarter worth approximately $9,900,000. Metropolitan Life Insurance Co. NY increased its position in shares of Concert Pharmaceuticals by 452.1% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 7,553 shares of the biotechnology company’s stock worth $95,000 after acquiring an additional 6,185 shares during the period. Finally, Perceptive Advisors LLC purchased a new position in shares of Concert Pharmaceuticals during the fourth quarter worth approximately $22,823,000. 75.73% of the stock is owned by institutional investors and hedge funds.

About Concert Pharmaceuticals

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.

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