Concert Pharmaceuticals (NASDAQ:CNCE) Rating Lowered to Hold at Jefferies Financial Group

Concert Pharmaceuticals (NASDAQ:CNCEGet Rating) was downgraded by analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued on Thursday, The Fly reports.

Several other analysts have also recently weighed in on CNCE. JMP Securities cut shares of Concert Pharmaceuticals to a “market perform” rating in a report on Thursday. StockNews.com upgraded shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, December 9th. Finally, Truist Financial cut shares of Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Concert Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $19.67.

Concert Pharmaceuticals Stock Down 0.1 %

Shares of NASDAQ CNCE opened at $8.28 on Thursday. Concert Pharmaceuticals has a 52 week low of $2.57 and a 52 week high of $8.34. The firm’s fifty day moving average is $5.48 and its 200 day moving average is $5.81. The company has a market cap of $396.93 million, a price-to-earnings ratio of -2.58 and a beta of 0.30.

Concert Pharmaceuticals (NASDAQ:CNCEGet Rating) last issued its earnings results on Monday, November 7th. The biotechnology company reported ($0.58) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.01. The firm had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.33 million. Equities research analysts anticipate that Concert Pharmaceuticals will post -2.7 earnings per share for the current year.

Insider Activity

In other news, CEO Roger D. Tung sold 9,240 shares of the business’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $7.24, for a total transaction of $66,897.60. Following the sale, the chief executive officer now owns 971,018 shares in the company, valued at approximately $7,030,170.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 11.33% of the company’s stock.

Institutional Trading of Concert Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Virtu Financial LLC bought a new stake in shares of Concert Pharmaceuticals during the 1st quarter valued at $47,000. Jane Street Group LLC bought a new position in Concert Pharmaceuticals in the 1st quarter worth about $56,000. BNP Paribas Arbitrage SNC boosted its stake in Concert Pharmaceuticals by 9,436.2% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 11,062 shares of the biotechnology company’s stock worth $74,000 after purchasing an additional 10,946 shares in the last quarter. Charles Schwab Investment Management Inc. bought a new position in Concert Pharmaceuticals in the 1st quarter worth about $80,000. Finally, UBS Group AG boosted its stake in Concert Pharmaceuticals by 42.6% in the 3rd quarter. UBS Group AG now owns 13,861 shares of the biotechnology company’s stock worth $94,000 after purchasing an additional 4,142 shares in the last quarter. Institutional investors own 70.63% of the company’s stock.

About Concert Pharmaceuticals

(Get Rating)

Concert Pharmaceuticals, Inc is a clinical stage biopharmaceutical company, which discovers and develops novel small molecule drugs through the use of deuterium technology. Its product candidates target a range of diseases including autoimmune disorders, inflammation, and central nervous system disorders.

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