Concert Pharmaceuticals (NASDAQ:CNCE) Earns Buy Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Concert Pharmaceuticals (NASDAQ:CNCE) in a report issued on Monday morning, Briefing.com Automated Import reports. The firm issued a buy rating and a $23.00 price objective on the biotechnology company’s stock. Jefferies Financial Group also issued estimates for Concert Pharmaceuticals’ Q1 2020 earnings at ($0.92) EPS, Q2 2020 earnings at ($0.88) EPS, Q3 2020 earnings at ($0.92) EPS, Q4 2020 earnings at ($0.90) EPS, FY2020 earnings at ($3.63) EPS, FY2021 earnings at ($3.34) EPS, FY2022 earnings at ($3.31) EPS, FY2023 earnings at ($2.20) EPS and FY2024 earnings at ($2.69) EPS.

CNCE has been the subject of several other reports. BidaskClub downgraded Concert Pharmaceuticals from a buy rating to a hold rating in a research note on Tuesday, January 28th. ValuEngine downgraded Concert Pharmaceuticals from a strong-buy rating to a buy rating in a research note on Friday, March 27th. Stifel Nicolaus downgraded Concert Pharmaceuticals to a hold rating and increased their price objective for the stock from $8.00 to $11.00 in a research note on Thursday, February 27th. Mizuho reaffirmed a buy rating and set a $18.00 price target on shares of Concert Pharmaceuticals in a research report on Wednesday, January 29th. Finally, HC Wainwright reaffirmed a buy rating and set a $25.00 price target on shares of Concert Pharmaceuticals in a research report on Friday, January 24th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $17.89.

NASDAQ:CNCE traded down $0.02 on Monday, hitting $7.80. The stock had a trading volume of 77,976 shares, compared to its average volume of 202,216. The business’s fifty day moving average is $9.28 and its 200 day moving average is $8.59. The company has a market cap of $227.93 million, a PE ratio of -2.37 and a beta of 0.91. The company has a quick ratio of 6.77, a current ratio of 6.77 and a debt-to-equity ratio of 0.16. Concert Pharmaceuticals has a 52 week low of $5.36 and a 52 week high of $13.95.

Concert Pharmaceuticals (NASDAQ:CNCE) last announced its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.07). The firm had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.08 million. Concert Pharmaceuticals had a negative return on equity of 62.01% and a negative net margin of 7,257.75%. Equities analysts predict that Concert Pharmaceuticals will post -3.21 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in CNCE. California Public Employees Retirement System boosted its stake in Concert Pharmaceuticals by 5.8% during the third quarter. California Public Employees Retirement System now owns 154,500 shares of the biotechnology company’s stock valued at $908,000 after buying an additional 8,500 shares during the period. State Street Corp boosted its stake in Concert Pharmaceuticals by 7.0% during the third quarter. State Street Corp now owns 403,725 shares of the biotechnology company’s stock valued at $2,374,000 after buying an additional 26,393 shares during the period. Virtu Financial LLC bought a new stake in Concert Pharmaceuticals during the third quarter valued at $69,000. Squarepoint Ops LLC boosted its stake in Concert Pharmaceuticals by 209.1% during the third quarter. Squarepoint Ops LLC now owns 65,200 shares of the biotechnology company’s stock valued at $383,000 after buying an additional 44,104 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its stake in Concert Pharmaceuticals by 11.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 77,383 shares of the biotechnology company’s stock valued at $713,000 after buying an additional 7,936 shares during the period. 53.24% of the stock is owned by institutional investors and hedge funds.

About Concert Pharmaceuticals

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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