Concert Pharmaceuticals (NASDAQ:CNCE) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Concert Pharmaceuticals (NASDAQ:CNCEGet Rating) from a hold rating to a sell rating in a research report released on Tuesday, Zacks.com reports.

According to Zacks, “Concert Pharmaceuticals Inc. is a biopharmaceutical company. It is focused on applying its DCE Platform (R) to create novel small molecule drugs. The Company manufactures drugs in various therapeutic areas such as hot flashes, HIV, renal hepatic, neuropathic pain, MRSA infection, and schizophrenia, multiple tumors, and hyperparathyroidism. Concert Pharmaceuticals Inc. is based in United States. “

A number of other equities analysts also recently commented on CNCE. HC Wainwright reiterated a buy rating and issued a $17.00 target price on shares of Concert Pharmaceuticals in a report on Friday, March 4th. StockNews.com initiated coverage on shares of Concert Pharmaceuticals in a report on Friday, May 6th. They issued a hold rating for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Concert Pharmaceuticals presently has a consensus rating of Hold and an average target price of $12.00.

CNCE stock opened at $2.81 on Tuesday. The business has a 50-day moving average price of $3.26 and a 200 day moving average price of $3.29. The company has a market capitalization of $102.08 million, a P/E ratio of -1.06 and a beta of 0.40. Concert Pharmaceuticals has a 1-year low of $2.57 and a 1-year high of $4.62.

Concert Pharmaceuticals (NASDAQ:CNCEGet Rating) last announced its earnings results on Thursday, May 5th. The biotechnology company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.10). Concert Pharmaceuticals had a negative return on equity of 82.49% and a negative net margin of 245.72%. During the same quarter in the prior year, the company earned ($0.67) earnings per share. On average, analysts predict that Concert Pharmaceuticals will post -3.62 EPS for the current year.

In other news, CEO Roger D. Tung sold 13,480 shares of the business’s stock in a transaction dated Tuesday, February 15th. The stock was sold at an average price of $3.09, for a total transaction of $41,653.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 23,291 shares of company stock worth $71,909 in the last 90 days. Insiders own 10.80% of the company’s stock.

Several hedge funds have recently modified their holdings of CNCE. Morgan Stanley grew its stake in shares of Concert Pharmaceuticals by 653.1% during the second quarter. Morgan Stanley now owns 335,238 shares of the biotechnology company’s stock worth $1,414,000 after acquiring an additional 290,722 shares during the last quarter. BlackRock Inc. grew its stake in shares of Concert Pharmaceuticals by 7.5% during the third quarter. BlackRock Inc. now owns 719,973 shares of the biotechnology company’s stock worth $2,355,000 after acquiring an additional 49,938 shares during the last quarter. IndexIQ Advisors LLC grew its stake in shares of Concert Pharmaceuticals by 11.1% during the third quarter. IndexIQ Advisors LLC now owns 90,100 shares of the biotechnology company’s stock worth $295,000 after acquiring an additional 9,025 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Concert Pharmaceuticals by 7.2% during the third quarter. Geode Capital Management LLC now owns 343,700 shares of the biotechnology company’s stock worth $1,123,000 after acquiring an additional 23,078 shares during the last quarter. Finally, GSA Capital Partners LLP grew its stake in shares of Concert Pharmaceuticals by 35.2% during the third quarter. GSA Capital Partners LLP now owns 379,244 shares of the biotechnology company’s stock worth $1,240,000 after acquiring an additional 98,635 shares during the last quarter. Institutional investors and hedge funds own 51.26% of the company’s stock.

Concert Pharmaceuticals Company Profile (Get Rating)

Concert Pharmaceuticals, Inc operates as a clinical stage biopharmaceutical company that develops novel small molecule drugs for the treatment of autoimmune diseases. The company's lead product candidate is CTP-543, which is in Phase III clinical trial for the treatment of alopecia areata, a serious autoimmune dermatological condition.

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