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Concert Pharmaceuticals (NASDAQ:CNCE) Cut to Hold at Zacks Investment Research

Last updated on Wednesday, July 1st, 2020 by MarketBeat

Concert Pharmaceuticals (NASDAQ:CNCE) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research note issued to investors on Wednesday, 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 analysts have also recently weighed in on CNCE. ValuEngine cut shares of Concert Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Friday, March 27th. Mizuho restated a "buy" rating and issued a $18.00 target price on shares of Concert Pharmaceuticals in a research note on Monday, June 1st. Jefferies Financial Group started coverage on shares of Concert Pharmaceuticals in a research note on Monday, March 30th. They issued a "buy" rating and a $23.00 target price for the company. Finally, BidaskClub cut shares of Concert Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Friday, June 26th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Concert Pharmaceuticals presently has a consensus rating of "Buy" and a consensus price target of $18.29.

NASDAQ:CNCE traded up $0.49 during trading hours on Wednesday, reaching $9.95. 134,200 shares of the company's stock were exchanged, compared to its average volume of 172,837. The firm has a market capitalization of $280.52 million, a price-to-earnings ratio of -3.25 and a beta of 0.93. The company has a 50-day moving average of $9.70 and a 200 day moving average of $9.64. The company has a quick ratio of 11.87, a current ratio of 11.87 and a debt-to-equity ratio of 0.10. Concert Pharmaceuticals has a 1-year low of $5.36 and a 1-year high of $13.09.

Concert Pharmaceuticals (NASDAQ:CNCE) last issued its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($0.70) earnings per share for the quarter, topping the Zacks' consensus estimate of ($0.74) by $0.04. The firm had revenue of $0.01 million during the quarter, compared to analysts' expectations of $0.02 million. Concert Pharmaceuticals had a negative net margin of 97,236.70% and a negative return on equity of 60.38%. Research analysts forecast that Concert Pharmaceuticals will post -2.89 EPS for the current fiscal year.

In other Concert Pharmaceuticals news, COO Nancy Stuart sold 10,295 shares of the firm's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $11.34, for a total transaction of $116,745.30. Following the completion of the transaction, the chief operating officer now directly owns 167,924 shares in the company, valued at approximately $1,904,258.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 10.10% of the company's stock.

A number of large investors have recently bought and sold shares of CNCE. Citigroup Inc. increased its holdings in Concert Pharmaceuticals by 64.8% during the 4th quarter. Citigroup Inc. now owns 5,135 shares of the biotechnology company's stock valued at $47,000 after acquiring an additional 2,020 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Concert Pharmaceuticals by 55.7% during the first quarter. BNP Paribas Arbitrage SA now owns 8,116 shares of the biotechnology company's stock worth $72,000 after buying an additional 2,904 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Concert Pharmaceuticals by 15.8% during the first quarter. Deutsche Bank AG now owns 9,799 shares of the biotechnology company's stock worth $87,000 after buying an additional 1,335 shares in the last quarter. Raymond James & Associates purchased a new stake in shares of Concert Pharmaceuticals during the fourth quarter worth about $102,000. Finally, Windsor Creek Advisors LLC purchased a new stake in shares of Concert Pharmaceuticals during the first quarter worth about $120,000. Hedge funds and other institutional investors own 66.66% 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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