Concert Pharmaceuticals (NASDAQ:CNCE) has been assigned a $23.00 target price by equities research analysts at Mizuho in a research report issued to clients and investors on Friday, TipRanks reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Mizuho’s price objective points to a potential upside of 124.61% from the company’s current price.
CNCE has been the subject of a number of other reports. SunTrust Banks started coverage on Concert Pharmaceuticals in a research note on Monday, June 24th. They set a “buy” rating and a $30.00 price target for the company. Zacks Investment Research lowered Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, May 7th. Janney Montgomery Scott raised Concert Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price target for the company from $14.00 to $16.00 in a research note on Thursday, June 13th. 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. Finally, ValuEngine raised Concert Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $21.29.
CNCE traded down $0.20 during trading hours on Friday, hitting $10.24. The company’s stock had a trading volume of 4,870 shares, compared to its average volume of 161,717. The business’s 50-day moving average is $11.19. The company has a quick ratio of 20.44, a current ratio of 20.44 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $250.61 million, a price-to-earnings ratio of -4.27 and a beta of 0.85. Concert Pharmaceuticals has a fifty-two week low of $9.21 and a fifty-two week high of $17.83.
In other news, major shareholder Bvf Partners L. P/Il sold 386,289 shares of the firm’s stock in a transaction 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 this link. Company insiders own 11.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale boosted its stake in shares of 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 acquiring an additional 1,600 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of Concert Pharmaceuticals by 4.0% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 61,035 shares of the biotechnology company’s stock worth $736,000 after acquiring an additional 2,350 shares in the last quarter. Knott David M boosted its stake in shares of Concert Pharmaceuticals by 4.1% during the 1st quarter. Knott David M now owns 83,607 shares of the biotechnology company’s stock worth $1,009,000 after acquiring an additional 3,307 shares in the last quarter. Aperio Group LLC bought a new stake in shares of Concert Pharmaceuticals during the 2nd quarter worth $43,000. Finally, Great West Life Assurance Co. Can bought a new stake in shares of Concert Pharmaceuticals during the 4th quarter worth $48,000. 74.97% 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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