StockNews.com Downgrades Concert Pharmaceuticals (NASDAQ:CNCE) to Sell

Concert Pharmaceuticals (NASDAQ:CNCEGet Rating) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

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Several other equities research analysts have also commented on the stock. JMP Securities lowered shares of Concert Pharmaceuticals to a “market perform” rating in a research note on Thursday. Truist Financial downgraded shares of Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday. Jefferies Financial Group downgraded shares of Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Jonestrading reissued a “hold” rating on shares of Concert Pharmaceuticals in a research report on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $19.67.

Concert Pharmaceuticals Stock Performance

NASDAQ:CNCE traded down $0.01 on Friday, hitting $8.28. The stock had a trading volume of 7,566,225 shares, compared to its average volume of 5,582,614. The stock has a market cap of $396.93 million, a P/E ratio of -2.58 and a beta of 0.30. Concert Pharmaceuticals has a 1 year low of $2.57 and a 1 year high of $8.34. The firm’s fifty day simple moving average is $5.48 and its two-hundred day simple moving average is $5.81.

Concert Pharmaceuticals (NASDAQ:CNCEGet Rating) last posted its quarterly earnings data on Monday, November 7th. The biotechnology company reported ($0.58) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.01. The firm had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.33 million. Equities research analysts predict that Concert Pharmaceuticals will post -2.7 EPS for the current year.


Insider Buying and Selling

In related news, CEO Roger D. Tung sold 9,240 shares of the firm’s stock in a transaction that occurred on Friday, January 6th. The shares were sold at an average price of $7.24, for a total value of $66,897.60. Following the completion of the transaction, the chief executive officer now directly owns 971,018 shares of the company’s stock, valued at approximately $7,030,170.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. International Biotechnology Trust PLC bought a new position in Concert Pharmaceuticals in the 2nd quarter worth approximately $620,000. Black Diamond Financial LLC boosted its holdings in Concert Pharmaceuticals by 50.0% in the 2nd quarter. Black Diamond Financial LLC now owns 69,000 shares of the biotechnology company’s stock valued at $290,000 after purchasing an additional 23,000 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Concert Pharmaceuticals by 1,618.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 548,843 shares of the biotechnology company’s stock valued at $2,311,000 after purchasing an additional 516,912 shares during the period. Franklin Resources Inc. bought a new position in Concert Pharmaceuticals in the 2nd quarter valued at $295,000. Finally, Ensign Peak Advisors Inc bought a new position in Concert Pharmaceuticals in the 2nd quarter valued at $372,000. 70.63% of the stock is owned by institutional investors.

Concert Pharmaceuticals Company Profile

(Get Rating)

Concert Pharmaceuticals, Inc is a clinical stage biopharmaceutical company, which discovers and develops novel small molecule drugs through the use of deuterium technology. Its product candidates target a range of diseases including autoimmune disorders, inflammation, and central nervous system disorders.

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Analyst Recommendations for Concert Pharmaceuticals (NASDAQ:CNCE)

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