HC Wainwright reiterated their buy rating on shares of Concert Pharmaceuticals (NASDAQ:CNCE) in a report released on Friday morning, AnalystRatings.com reports. They currently have a $29.00 price objective on the biotechnology company’s stock.
“Our price target of $29/share is comprised of $10.39 from CTP-543 in AA + $3.81 from AVP-786 in AD + $8.60 in schizophrenia + $5.75 in cash and is based on a discounted cash flow analysis (2019-2026) using a 12% discount rate and 1% growth rate, in line with the expected discount and growth parameters of a development stage biotechnology company. Risks to our investment thesis and target price include: (1) failure in clinical studies; (2) failure to secure regulatory approval; and (3) smaller than anticipated commercial opportunity due to market size, competition, and pricing.”,” the firm’s analyst wrote.
Several other equities analysts have also weighed in on the company. UBS Group set a $13.00 price target on Concert Pharmaceuticals and gave the company a buy rating in a research note on Wednesday, April 10th. JMP Securities cut their price target on Concert Pharmaceuticals from $26.00 to $20.00 and set an outperform rating for the company in a research note on Tuesday, April 9th. Mizuho restated a buy rating and issued a $23.00 price target on shares of Concert Pharmaceuticals in a research note on Friday, May 17th. Zacks Investment Research lowered Concert Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, May 7th. Finally, SunTrust Banks began coverage on Concert Pharmaceuticals in a research note on Monday, June 24th. They issued a buy rating and a $30.00 price target for the company. Two equities research analysts have rated the stock with a sell rating and eight have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $21.29.
Concert Pharmaceuticals (NASDAQ:CNCE) last announced its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.78) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.92) by $0.14. Concert Pharmaceuticals had a negative return on equity of 41.72% and a negative net margin of 7,118.04%. The firm had revenue of $0.05 million during the quarter, compared to analyst estimates of $0.30 million. As a group, sell-side analysts predict that Concert Pharmaceuticals will post -3.78 earnings per share for the current fiscal year.
In other Concert Pharmaceuticals news, major shareholder Bvf Partners L. P/Il sold 386,289 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $10.70, for a total transaction of $4,133,292.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.00% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of CNCE. Aperio Group LLC purchased a new stake in Concert Pharmaceuticals during the 2nd quarter worth approximately $43,000. Great West Life Assurance Co. Can purchased a new stake in Concert Pharmaceuticals during the 4th quarter worth approximately $48,000. BNP Paribas Arbitrage SA increased its stake in Concert Pharmaceuticals by 63,200.0% during 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 in the last quarter. Metropolitan Life Insurance Co. NY increased its stake 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 worth $95,000 after buying an additional 6,185 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in Concert Pharmaceuticals by 21.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 9,000 shares of the biotechnology company’s stock worth $143,000 after buying an additional 1,600 shares in the last quarter. Institutional investors own 75.29% of the company’s stock.
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.
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