Concert Pharmaceuticals (CNCE) Downgraded by BidaskClub to Buy

Concert Pharmaceuticals (NASDAQ:CNCE) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, March 27th, BidAskClub reports.

Other analysts also recently issued research reports about the company. HC Wainwright restated a “buy” rating on shares of Concert Pharmaceuticals in a research note on Friday, March 1st. ValuEngine upgraded Concert Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, November 28th. TheStreet downgraded Concert Pharmaceuticals from a “c-” rating to a “d” rating in a research note on Friday, March 1st. Finally, Zacks Investment Research upgraded Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, January 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Concert Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $20.00.

Shares of NASDAQ CNCE traded down $0.40 during mid-day trading on Wednesday, reaching $9.44. 352,126 shares of the company traded hands, compared to its average volume of 561,392. The firm has a market cap of $222.11 million, a price-to-earnings ratio of -3.93 and a beta of 0.99. Concert Pharmaceuticals has a fifty-two week low of $9.30 and a fifty-two week high of $21.00.

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

Several institutional investors have recently bought and sold shares of CNCE. Great West Life Assurance Co. Can bought a new position in shares of Concert Pharmaceuticals during the 4th quarter worth approximately $48,000. Metropolitan Life Insurance Co. NY increased its holdings in Concert Pharmaceuticals by 452.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,553 shares of the biotechnology company’s stock valued at $95,000 after purchasing an additional 6,185 shares in the last quarter. Virtu Financial LLC acquired a new stake in Concert Pharmaceuticals during the 1st quarter valued at $143,000. Mackenzie Financial Corp acquired a new stake in Concert Pharmaceuticals during the 3rd quarter valued at $160,000. Finally, Jefferies Group LLC acquired a new stake in Concert Pharmaceuticals during the 3rd quarter valued at $174,000. Institutional investors and hedge funds own 75.40% 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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