Concert Pharmaceuticals (NASDAQ:CNCE)‘s stock had its “buy” rating reaffirmed by investment analysts at Stifel Nicolaus in a research report issued to clients and investors on Friday. They presently have a $27.00 price objective on the biotechnology company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 34.00% from the company’s current price.
A number of other research firms have also commented on CNCE. BidaskClub lowered Concert Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 22nd. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Concert Pharmaceuticals in a research report on Monday, September 18th. Zacks Investment Research lowered Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Mizuho initiated coverage on Concert Pharmaceuticals in a research report on Thursday, October 26th. They set a “buy” rating and a $23.00 price target on the stock. Finally, TheStreet raised Concert Pharmaceuticals from a “d” rating to a “c+” rating in a research report on Wednesday, November 29th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $24.33.
Concert Pharmaceuticals (NASDAQ:CNCE) opened at $20.15 on Friday. Concert Pharmaceuticals has a 1-year low of $8.61 and a 1-year high of $30.71. The stock has a market capitalization of $458.87, a PE ratio of 5.37 and a beta of 1.67.
In other news, insider Value Fund L. P. Biotechnology bought 331,916 shares of the company’s stock in a transaction that occurred on Thursday, October 19th. The shares were acquired at an average price of $15.84 per share, with a total value of $5,257,549.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Value Fund L. P. Biotechnology sold 1,282,856 shares of Concert Pharmaceuticals stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $26.65, for a total value of $34,188,112.40. The disclosure for this sale can be found here. 10.10% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in Concert Pharmaceuticals in the 3rd quarter valued at approximately $153,000. Alliancebernstein L.P. acquired a new stake in Concert Pharmaceuticals in the 2nd quarter valued at approximately $174,000. State of Wisconsin Investment Board acquired a new stake in Concert Pharmaceuticals in the 2nd quarter valued at approximately $181,000. The Manufacturers Life Insurance Company increased its position in shares of Concert Pharmaceuticals by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,052 shares of the biotechnology company’s stock worth $210,000 after purchasing an additional 287 shares during the last quarter. Finally, Princeton Capital Management Inc. acquired a new position in shares of Concert Pharmaceuticals during the 3rd quarter worth approximately $215,000. 65.29% of the stock is currently owned by institutional investors and hedge funds.
Concert Pharmaceuticals Company Profile
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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