Concert Pharmaceuticals (NASDAQ:CNCE) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Concert Pharmaceuticals (NASDAQ:CNCEGet Rating) in a research note issued to investors on Saturday. The firm set a “hold” rating on the biotechnology company’s stock.

Several other brokerages also recently commented on CNCE. HC Wainwright reiterated a “buy” rating and set a $17.00 target price on shares of Concert Pharmaceuticals in a report on Friday, March 4th. Zacks Investment Research upgraded Concert Pharmaceuticals from a “sell” rating to a “buy” rating and set a $3.25 target price on the stock in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $9.81.

NASDAQ CNCE opened at $3.95 on Friday. The firm has a market capitalization of $143.50 million, a P/E ratio of -1.48 and a beta of 0.40. Concert Pharmaceuticals has a 1-year low of $2.57 and a 1-year high of $4.62. The business’s 50-day simple moving average is $3.27 and its 200-day simple moving average is $3.30.

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 the consensus estimate of ($0.93) by ($0.10). Concert Pharmaceuticals had a negative net margin of 245.72% and a negative return on equity of 89.48%. During the same period in the previous year, the company earned ($0.67) EPS. On average, equities analysts expect that Concert Pharmaceuticals will post -3.58 earnings per share for the current fiscal year.

In other Concert Pharmaceuticals news, CEO Roger D. Tung sold 13,480 shares of Concert Pharmaceuticals stock in a transaction that occurred on Tuesday, February 15th. The stock was sold at an average price of $3.09, for a total transaction of $41,653.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 23,291 shares of company stock worth $71,909 over the last 90 days. 11.00% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Marshall Wace LLP grew its position in shares of Concert Pharmaceuticals by 266.4% in the 3rd quarter. Marshall Wace LLP now owns 74,953 shares of the biotechnology company’s stock worth $245,000 after acquiring an additional 54,498 shares in the last quarter. Lake Street Advisors Group LLC acquired a new position in shares of Concert Pharmaceuticals in the 3rd quarter worth approximately $116,000. Geode Capital Management LLC grew its position in shares of Concert Pharmaceuticals by 7.2% in the 3rd 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 in the last quarter. GSA Capital Partners LLP grew its position in shares of Concert Pharmaceuticals by 35.2% in the 3rd 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 in the last quarter. Finally, IndexIQ Advisors LLC grew its position in shares of Concert Pharmaceuticals by 11.1% in the 3rd 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 in the last quarter. Institutional investors own 51.26% of the company’s stock.

About Concert Pharmaceuticals (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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