Stifel Nicolaus Trims Concert Pharmaceuticals (NASDAQ:CNCE) Target Price to $18.00

Concert Pharmaceuticals (NASDAQ:CNCE) had its target price cut by investment analysts at Stifel Nicolaus from $27.00 to $18.00 in a research note issued on Tuesday, April 9th, The Fly reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 69.01% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. BidaskClub upgraded shares of Concert Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 6th. HC Wainwright reiterated a “buy” rating on shares of Concert Pharmaceuticals in a research note on Friday, March 1st. TheStreet cut shares of Concert Pharmaceuticals from a “c-” rating to a “d” rating in a research note on Friday, March 1st. ValuEngine cut shares of Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, January 4th. Finally, Zacks Investment Research upgraded shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, January 3rd. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $20.00.

Shares of CNCE stock traded up $0.69 during mid-day trading on Tuesday, reaching $10.65. 229,648 shares of the company’s stock traded hands, compared to its average volume of 249,256. Concert Pharmaceuticals has a 12 month low of $9.21 and a 12 month high of $21.00. The stock has a market cap of $234.35 million, a PE ratio of -4.44 and a beta of 0.89.

Concert Pharmaceuticals (NASDAQ:CNCE) last announced its earnings results on Thursday, May 2nd. The biotechnology company reported ($0.93) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.62) by ($0.31). Concert Pharmaceuticals had a negative net margin of 533.31% and a negative return on equity of 29.33%. The business had revenue of $1.01 million for the quarter, compared to the consensus estimate of $16.08 million. Equities research analysts expect that Concert Pharmaceuticals will post -3.32 earnings per share for the current year.

A number of large investors have recently modified their holdings of the business. Prudential Financial Inc. raised its position in Concert Pharmaceuticals by 2.0% in the 4th quarter. Prudential Financial Inc. now owns 81,616 shares of the biotechnology company’s stock worth $1,024,000 after buying an additional 1,610 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in Concert Pharmaceuticals by 4.0% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 61,035 shares of the biotechnology company’s stock worth $736,000 after buying an additional 2,350 shares during the last quarter. Great West Life Assurance Co. Can purchased a new position in Concert Pharmaceuticals in the 4th quarter worth about $48,000. BNP Paribas Arbitrage SA raised its position in Concert Pharmaceuticals by 63,200.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,431 shares of the biotechnology company’s stock worth $53,000 after buying an additional 4,424 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Concert Pharmaceuticals by 5.7% during the 4th quarter. California Public Employees Retirement System now owns 89,279 shares of the biotechnology company’s stock valued at $1,120,000 after purchasing an additional 4,800 shares during the last quarter. 72.75% of the stock is owned by institutional investors and hedge funds.

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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