Stifel Nicolaus restated their buy rating on shares of Concert Pharmaceuticals Inc (NASDAQ:CNCE) in a research note released on Wednesday. Stifel Nicolaus currently has a $31.00 price objective on the biotechnology company’s stock.
Other research analysts have also recently issued research reports about the company. Aegis reissued a buy rating and issued a $25.00 target price on shares of Concert Pharmaceuticals in a research note on Wednesday, April 5th. Zacks Investment Research raised Concert Pharmaceuticals from a hold rating to a buy rating and set a $19.00 target price on the stock in a research note on Thursday, March 9th. Five equities research analysts have rated the stock with a buy rating, Concert Pharmaceuticals has a consensus rating of Buy and an average price target of $26.40.
Shares of Concert Pharmaceuticals (NASDAQ:CNCE) opened at 16.16 on Wednesday. Concert Pharmaceuticals has a 12-month low of $7.11 and a 12-month high of $19.11. The company’s 50-day moving average price is $16.13 and its 200 day moving average price is $11.06. The firm’s market capitalization is $360.82 million.
Concert Pharmaceuticals (NASDAQ:CNCE) last released its earnings results on Monday, March 6th. The biotechnology company reported ($0.54) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.66) by $0.12. The business had revenue of $0.02 million for the quarter. Concert Pharmaceuticals had a negative return on equity of 33.68% and a negative net margin of 363.29%. On average, equities analysts forecast that Concert Pharmaceuticals will post ($1.54) earnings per share for the current year.
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Several hedge funds and other institutional investors have recently made changes to their positions in CNCE. Wells Fargo & Company MN boosted its position in shares of Concert Pharmaceuticals by 0.4% in the third quarter. Wells Fargo & Company MN now owns 32,135 shares of the biotechnology company’s stock worth $324,000 after buying an additional 136 shares during the period. Ingalls & Snyder LLC boosted its position in shares of Concert Pharmaceuticals by 43.3% in the third quarter. Ingalls & Snyder LLC now owns 894,687 shares of the biotechnology company’s stock worth $9,045,000 after buying an additional 270,187 shares during the period. SECOR Capital Advisors LP bought a new position in shares of Concert Pharmaceuticals during the third quarter worth about $740,000. Baker BROS. Advisors LP bought a new position in shares of Concert Pharmaceuticals during the third quarter worth about $3,205,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Concert Pharmaceuticals during the fourth quarter worth about $440,000. 60.37% of the stock is currently owned by hedge funds and other institutional investors.
About Concert Pharmaceuticals
Concert Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery and development of small molecule drugs. The Company operates through the development of pharmaceutical products on its own behalf or in collaboration with others. The Company’s deuterated chemical entity platform (DCE Platform), has potential across various therapeutic areas.
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