Concert Pharmaceuticals (NASDAQ:CNCE) issued its quarterly earnings results on Thursday. The biotechnology company reported ($0.72) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.85) by $0.13, Fidelity Earnings reports. The business had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.35 million. Concert Pharmaceuticals had a negative net margin of 7,303.34% and a negative return on equity of 49.44%.
Shares of CNCE stock traded up $0.33 on Friday, reaching $6.73. 303,600 shares of the company were exchanged, compared to its average volume of 223,753. The company has a 50-day moving average of $6.77 and a 200-day moving average of $9.76. The company has a debt-to-equity ratio of 0.12, a current ratio of 19.63 and a quick ratio of 19.63. Concert Pharmaceuticals has a one year low of $5.36 and a one year high of $17.83. The company has a market cap of $152.32 million, a price-to-earnings ratio of -2.80 and a beta of 0.88.
CNCE has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday. SunTrust Banks cut their price objective on shares of Concert Pharmaceuticals from $30.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Janney Montgomery Scott reissued a “buy” rating and set a $10.00 price objective (down previously from $13.00) on shares of Concert Pharmaceuticals in a research report on Monday, September 30th. Mizuho reissued a “buy” rating and set a $18.00 price objective on shares of Concert Pharmaceuticals in a research report on Friday. Finally, HC Wainwright cut their price objective on shares of Concert Pharmaceuticals from $29.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $15.63.
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 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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