Zacks Investment Research Lowers Constellation Pharmaceuticals (NASDAQ:CNST) to Hold

Constellation Pharmaceuticals (NASDAQ:CNST) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday, Zacks.com reports.

According to Zacks, “Constellation Pharmaceuticals, Inc. operates as a bio-pharmaceutical company. It discovers and develops molecule therapeutics for the treatment of cancer, inflammatory and immunologic disorders. The company’s lead product candidates consists of CPI-1205, which inhibits enhancer of zeste homolog 2 and CPI-0610, which inhibits bromodomain and extra terminal domain. Constellation Pharmaceuticals, Inc. is based in Cambridge, United States. “

Several other equities research analysts also recently issued reports on CNST. Oppenheimer boosted their price objective on Constellation Pharmaceuticals from $14.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. HC Wainwright reiterated a “buy” rating on shares of Zomedica Pharmaceuticals in a report on Wednesday, June 5th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $17.29.

Shares of CNST stock remained flat at $$9.83 on Monday. The company had a trading volume of 21,195 shares, compared to its average volume of 77,653. The company has a quick ratio of 6.92, a current ratio of 6.92 and a debt-to-equity ratio of 0.25. The stock has a market cap of $253.68 million and a price-to-earnings ratio of -1.97. Constellation Pharmaceuticals has a 52-week low of $4.01 and a 52-week high of $14.04. The company’s 50-day moving average price is $9.78.

Constellation Pharmaceuticals (NASDAQ:CNST) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.80) by $0.05. As a group, analysts expect that Constellation Pharmaceuticals will post -3.13 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of CNST. Rhumbline Advisers purchased a new stake in Constellation Pharmaceuticals during the 1st quarter worth about $221,000. Wade G W & Inc. acquired a new position in shares of Constellation Pharmaceuticals during the 1st quarter worth about $166,000. Northern Trust Corp boosted its position in shares of Constellation Pharmaceuticals by 12.4% during the 4th quarter. Northern Trust Corp now owns 51,008 shares of the company’s stock worth $204,000 after acquiring an additional 5,624 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Constellation Pharmaceuticals by 4,092.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,312 shares of the company’s stock worth $45,000 after acquiring an additional 3,233 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Constellation Pharmaceuticals by 16.9% during the 4th quarter. Geode Capital Management LLC now owns 13,735 shares of the company’s stock worth $55,000 after acquiring an additional 1,987 shares in the last quarter. Institutional investors own 64.38% of the company’s stock.

About Constellation Pharmaceuticals

Constellation Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing therapeutics that address serious unmet medical needs in patients with cancers associated with abnormal gene expression or drug resistance. The company's lead product candidates include CPI-0610 that is in Phase II clinical trials for the treatment of patients with myelofibrosis in combination with ruxolitinib; and CPI-1205 that is in Phase Ib/II clinical trials for the treatment of metastatic castration-resistant prostate cancer in combination with androgen receptor signaling inhibitors.

Further Reading: Preferred Stock

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