Concert Pharmaceuticals (NASDAQ:CNCE) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Thursday, BidAskClub reports.

Other research analysts have also recently issued research reports about the stock. Mizuho reissued a “buy” rating and set a $18.00 target price on shares of Concert Pharmaceuticals in a report on Monday, June 1st. Zacks Investment Research cut shares of Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. Concert Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $18.29.

Shares of NASDAQ CNCE traded up $0.05 during midday trading on Thursday, reaching $9.27. The company had a trading volume of 202,288 shares, compared to its average volume of 124,973. The business’s 50-day simple moving average is $9.96 and its 200 day simple moving average is $9.76. The stock has a market cap of $274.86 million, a P/E ratio of -3.03 and a beta of 0.91. Concert Pharmaceuticals has a 1 year low of $5.36 and a 1 year high of $13.09. The company has a current ratio of 11.87, a quick ratio of 11.87 and a debt-to-equity ratio of 0.10.

Concert Pharmaceuticals (NASDAQ:CNCE) last posted its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($0.70) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.74) by $0.04. Concert Pharmaceuticals had a negative net margin of 97,236.70% and a negative return on equity of 60.38%. The business had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.02 million. Analysts predict that Concert Pharmaceuticals will post -2.97 earnings per share for the current year.

In other news, COO Nancy Stuart sold 10,295 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $11.34, for a total transaction of $116,745.30. Following the sale, the chief operating officer now owns 167,924 shares of the company’s stock, valued at $1,904,258.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 11.00% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CNCE. Citigroup Inc. raised its position in shares of 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 buying an additional 2,020 shares in the last quarter. Raymond James & Associates acquired a new stake in shares of Concert Pharmaceuticals in the fourth quarter valued at about $102,000. Oxford Asset Management LLP acquired a new position in Concert Pharmaceuticals during the fourth quarter worth about $187,000. Goldman Sachs Group Inc. boosted its position in Concert Pharmaceuticals by 25.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 49,530 shares of the biotechnology company’s stock worth $457,000 after acquiring an additional 10,073 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Concert Pharmaceuticals by 1.1% during the fourth quarter. Bank of New York Mellon Corp now owns 84,442 shares of the biotechnology company’s stock worth $779,000 after acquiring an additional 947 shares during the last quarter. Institutional investors own 66.66% of the company’s stock.

Concert Pharmaceuticals Company Profile

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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Analyst Recommendations for Concert Pharmaceuticals (NASDAQ:CNCE)

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