Concert Pharmaceuticals (NASDAQ:CNCE) Cut to Sell at BidaskClub

BidaskClub lowered shares of Concert Pharmaceuticals (NASDAQ:CNCE) from a hold rating to a sell rating in a research report released on Thursday morning, BidAskClub reports.

A number of other equities research analysts have also issued reports on CNCE. Mizuho reaffirmed a buy rating and set a $18.00 target price on shares of Concert Pharmaceuticals in a research report on Monday, June 1st. Zacks Investment Research downgraded Concert Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. Concert Pharmaceuticals presently has an average rating of Buy and an average target price of $18.29.

CNCE stock opened at $9.27 on Thursday. Concert Pharmaceuticals has a 12 month low of $5.36 and a 12 month high of $13.09. The company has a debt-to-equity ratio of 0.10, a current ratio of 11.87 and a quick ratio of 11.87. The firm has a 50 day simple moving average of $9.96 and a 200 day simple moving average of $9.76.

Concert Pharmaceuticals (NASDAQ:CNCE) last posted its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($0.70) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.74) by $0.04. The company had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.02 million. Concert Pharmaceuticals had a negative return on equity of 60.38% and a negative net margin of 97,236.70%. As a group, research analysts expect that Concert Pharmaceuticals will post -2.97 EPS for the current fiscal year.

In related news, COO Nancy Stuart sold 10,295 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $11.34, for a total value of $116,745.30. Following the completion of the sale, the chief operating officer now directly owns 167,924 shares of the company’s stock, valued at approximately $1,904,258.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.00% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Citigroup Inc. lifted its position in Concert Pharmaceuticals by 64.8% in the 4th quarter. Citigroup Inc. now owns 5,135 shares of the biotechnology company’s stock worth $47,000 after buying an additional 2,020 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Concert Pharmaceuticals by 55.7% during the first quarter. BNP Paribas Arbitrage SA now owns 8,116 shares of the biotechnology company’s stock valued at $72,000 after purchasing an additional 2,904 shares during the last quarter. Deutsche Bank AG boosted its position in Concert Pharmaceuticals by 15.8% during the first quarter. Deutsche Bank AG now owns 9,799 shares of the biotechnology company’s stock valued at $87,000 after purchasing an additional 1,335 shares during the last quarter. Raymond James & Associates purchased a new position in Concert Pharmaceuticals in the fourth quarter valued at about $102,000. Finally, Windsor Creek Advisors LLC acquired a new position in Concert Pharmaceuticals in the 1st quarter worth about $120,000. 66.66% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: What are the qualifications of a portfolio manager?

Analyst Recommendations for Concert Pharmaceuticals (NASDAQ:CNCE)

Receive News & Ratings for Concert Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Concert Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.