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. It has strategic collaborations with Avanir Pharmaceuticals, Inc.; Jazz Pharmaceuticals, Inc.; Cipla Technologies; and Processa Pharmaceuticals. The company was incorporated in 2006 and is headquartered in Lexington, Massachusetts.
Analysts Set New Price Targets
Separately, StockNews.com began coverage on shares of Concert Pharmaceuticals in a research note on Wednesday, June 15th. They set a "hold" rating on the stock.
Concert Pharmaceuticals Stock Performance
CNCE opened at $6.13 on Friday. The company's fifty day moving average price is $4.85 and its two-hundred day moving average price is $3.89. Concert Pharmaceuticals has a 1-year low of $2.57 and a 1-year high of $6.88.
Concert Pharmaceuticals (NASDAQ:CNCE - Get Rating) last announced its earnings results on Thursday, May 5th. The biotechnology company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.93) by ($0.07). Concert Pharmaceuticals had a negative net margin of 245.72% and a negative return on equity of 125.90%. During the same quarter in the previous year, the company posted ($0.67) earnings per share. Equities analysts forecast that Concert Pharmaceuticals will post -3.47 earnings per share for the current year.
Insider Activity
In related news, Director Heek Christi Van acquired 10,526 shares of the firm's stock in a transaction that occurred on Monday, June 6th. The stock was acquired at an average price of $4.75 per share, for a total transaction of $49,998.50. Following the completion of the acquisition, the director now owns 25,651 shares of the company's stock, valued at approximately $121,842.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.00% of the stock is currently owned by corporate insiders.