Concert Pharmaceuticals (NASDAQ:CNCE) Downgraded by ValuEngine to “Hold”

Concert Pharmaceuticals (NASDAQ:CNCE) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday, ValuEngine reports.

CNCE has been the topic of several other reports. SunTrust Banks began coverage on shares of Concert Pharmaceuticals in a research note on Monday, June 24th. They issued a “buy” rating and a $30.00 price objective on the stock. BidaskClub raised shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, September 5th. HC Wainwright reissued a “buy” rating and issued a $29.00 price objective on shares of Concert Pharmaceuticals in a research note on Friday, August 2nd. Zacks Investment Research raised shares of Concert Pharmaceuticals from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Wednesday, August 7th. Finally, Mizuho boosted their price objective on shares of Concert Pharmaceuticals from $23.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Concert Pharmaceuticals has a consensus rating of “Buy” and an average price target of $20.75.

CNCE traded down $0.51 during trading on Thursday, hitting $10.48. The stock had a trading volume of 110,744 shares, compared to its average volume of 211,689. The company has a debt-to-equity ratio of 0.12, a quick ratio of 19.63 and a current ratio of 19.63. The firm has a market capitalization of $254.42 million, a P/E ratio of -4.37 and a beta of 0.82. The company’s 50-day moving average price is $10.45 and its 200 day moving average price is $11.62. Concert Pharmaceuticals has a twelve month low of $9.21 and a twelve month high of $17.83.



Concert Pharmaceuticals (NASDAQ:CNCE) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.78) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.14. The company had revenue of $0.05 million for the quarter, compared to analysts’ expectations of $0.30 million. Concert Pharmaceuticals had a negative net margin of 7,303.34% and a negative return on equity of 49.44%. As a group, equities analysts expect that Concert Pharmaceuticals will post -3.45 earnings per share for the current fiscal year.

In other Concert Pharmaceuticals news, Director Peter Barton Hutt sold 3,539 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $10.31, for a total transaction of $36,487.09. Following the sale, the director now directly owns 7,963 shares in the company, valued at approximately $82,098.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.00% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Parametric Portfolio Associates LLC boosted its position in shares of Concert Pharmaceuticals by 10.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 11,349 shares of the biotechnology company’s stock worth $136,000 after purchasing an additional 1,089 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Concert Pharmaceuticals by 21.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 9,000 shares of the biotechnology company’s stock worth $143,000 after purchasing an additional 1,600 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Concert Pharmaceuticals by 1.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 150,592 shares of the biotechnology company’s stock worth $1,768,000 after buying an additional 2,097 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Concert Pharmaceuticals in the 2nd quarter worth about $27,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Concert Pharmaceuticals by 5.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 48,827 shares of the biotechnology company’s stock worth $586,000 after buying an additional 2,658 shares in the last quarter. Institutional investors own 70.74% of the company’s stock.

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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Analyst Recommendations for Concert Pharmaceuticals (NASDAQ:CNCE)

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