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.
Concert Pharmaceuticals Trading Down 2.0 %
Shares of NASDAQ:CNCE opened at $6.96 on Friday. The firm has a 50 day simple moving average of $5.01 and a 200-day simple moving average of $4.02. The company has a market capitalization of $252.86 million, a PE ratio of -2.04 and a beta of 0.69. Concert Pharmaceuticals has a twelve month low of $2.57 and a twelve month high of $7.37.
Wall Street Analysts Forecast Growth
Separately, StockNews.com initiated coverage on Concert Pharmaceuticals in a research report on Wednesday, June 15th. They set a "hold" rating for the company.
Insider Buying and Selling
In related news, Director Heek Christi Van acquired 10,526 shares of the firm's stock in a transaction on Monday, June 6th. The stock was bought at an average price of $4.75 per share, for a total transaction of $49,998.50. Following the completion of the purchase, the director now directly owns 25,651 shares of the company's stock, valued at approximately $121,842.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.00% of the stock is owned by company insiders.