Concert Pharmaceuticals (NASDAQ:CNCE) Rating Increased to Buy at Zacks Investment Research

Concert Pharmaceuticals (NASDAQ:CNCE) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The brokerage presently has a $11.00 price target on the biotechnology company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 13.75% from the stock’s previous close.

According to Zacks, “Concert Pharmaceuticals Inc. is a biopharmaceutical company. It is focused on applying its DCE Platform (R) to create novel small molecule drugs. The Company manufactures drugs in various therapeutic areas such as hot flashes, HIV, renal hepatic, neuropathic pain, MRSA infection, and schizophrenia, multiple tumors, and hyperparathyroidism. Concert Pharmaceuticals Inc. is based in United States. “

Other analysts have also recently issued reports about the stock. Stifel Nicolaus cut shares of Concert Pharmaceuticals from a “buy” rating to a “hold” rating and reduced their target price for the company from $18.00 to $8.00 in a research note on Friday, September 27th. SunTrust Banks lifted their target price on shares of Concert Pharmaceuticals to $25.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Janney Montgomery Scott reiterated a “buy” rating and issued a $10.00 target price (down from $13.00) on shares of Concert Pharmaceuticals in a research note on Monday, September 30th. ValuEngine upgraded shares of Concert Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Finally, Mizuho reiterated a “buy” rating and issued a $18.00 target price on shares of Concert Pharmaceuticals in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $16.25.

NASDAQ CNCE traded up $0.08 during trading on Tuesday, reaching $9.67. The company’s stock had a trading volume of 106,508 shares, compared to its average volume of 134,189. The company has a current ratio of 9.53, a quick ratio of 9.53 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $230.54 million, a PE ratio of -4.03 and a beta of 1.06. The business has a 50-day moving average price of $8.59 and a 200-day moving average price of $8.96. Concert Pharmaceuticals has a 1-year low of $5.36 and a 1-year high of $17.83.

Concert Pharmaceuticals (NASDAQ:CNCE) last posted its earnings results on Thursday, November 7th. The biotechnology company reported ($0.72) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.85) by $0.13. The firm had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.35 million. Concert Pharmaceuticals had a negative net margin of 7,291.37% and a negative return on equity of 55.06%. As a group, analysts expect that Concert Pharmaceuticals will post -3.21 earnings per share for the current year.

Several institutional investors have recently modified their holdings of CNCE. Wells Fargo & Company MN lifted its stake in shares of Concert Pharmaceuticals by 26.7% in the second quarter. Wells Fargo & Company MN now owns 52,544 shares of the biotechnology company’s stock worth $630,000 after buying an additional 11,063 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Concert Pharmaceuticals by 1.4% in the second 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 during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Concert Pharmaceuticals in the second quarter worth $194,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Concert Pharmaceuticals by 5.8% in the second 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 during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Concert Pharmaceuticals by 1.6% in the second quarter. Northern Trust Corp now owns 295,756 shares of the biotechnology company’s stock worth $3,549,000 after buying an additional 4,685 shares during the last quarter. Institutional investors and hedge funds own 65.93% 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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