Concert Pharmaceuticals (NASDAQ:CNCE) was downgraded by equities researchers at Mizuho from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, Marketbeat reports. They currently have a $23.00 target price on the biotechnology company’s stock. Mizuho’s price objective points to a potential upside of 14.14% from the stock’s previous close.
Other equities analysts have also recently issued reports about the company. TheStreet raised Concert Pharmaceuticals from a “c+” rating to a “b-” rating in a report on Monday, January 8th. BidaskClub cut Concert Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Friday, December 22nd. UBS Group set a $34.00 price objective on Concert Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, December 19th. Zacks Investment Research raised Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $21.00 price objective on shares of Concert Pharmaceuticals in a report on Friday, November 10th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Concert Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $24.33.
Shares of Concert Pharmaceuticals (NASDAQ:CNCE) opened at $20.15 on Friday. Concert Pharmaceuticals has a 12 month low of $8.61 and a 12 month high of $30.71. The firm has a market capitalization of $458.87, a P/E ratio of 5.37 and a beta of 1.67.
In other news, insider Value Fund L. P. Biotechnology acquired 331,916 shares of Concert Pharmaceuticals stock in a transaction that occurred on Thursday, October 19th. The stock was purchased at an average cost of $15.84 per share, with a total value of $5,257,549.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald W. Barrett sold 14,156 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $24.70, for a total value of $349,653.20. Following the completion of the transaction, the director now directly owns 3,539 shares of the company’s stock, valued at $87,413.30. The disclosure for this sale can be found here. Insiders own 10.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of Concert Pharmaceuticals in the third quarter worth $153,000. Alliancebernstein L.P. acquired a new position in shares of Concert Pharmaceuticals in the second quarter worth $174,000. State of Wisconsin Investment Board acquired a new position in shares of Concert Pharmaceuticals in the second quarter worth $181,000. The Manufacturers Life Insurance Company raised its holdings in shares of Concert Pharmaceuticals by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 15,052 shares of the biotechnology company’s stock worth $210,000 after acquiring an additional 287 shares during the last quarter. Finally, Princeton Capital Management Inc. acquired a new position in shares of Concert Pharmaceuticals in the third quarter worth $215,000. 65.29% of the stock is owned by institutional investors.
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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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