Brokers Set Expectations for Concert Pharmaceuticals, Inc.’s FY2022 Earnings (NASDAQ:CNCE)

Concert Pharmaceuticals, Inc. (NASDAQ:CNCEGet Rating) – Analysts at HC Wainwright decreased their FY2022 earnings per share (EPS) estimates for Concert Pharmaceuticals in a report issued on Tuesday, November 8th. HC Wainwright analyst A. Fein now expects that the biotechnology company will post earnings of ($2.69) per share for the year, down from their previous estimate of ($2.56). The consensus estimate for Concert Pharmaceuticals’ current full-year earnings is ($2.70) per share. HC Wainwright also issued estimates for Concert Pharmaceuticals’ Q4 2022 earnings at ($0.59) EPS, FY2023 earnings at ($2.81) EPS, FY2024 earnings at ($2.52) EPS, FY2025 earnings at ($1.10) EPS and FY2026 earnings at $0.02 EPS.

CNCE has been the topic of a number of other research reports. Truist Financial boosted their target price on Concert Pharmaceuticals from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, September 13th. Jonestrading assumed coverage on Concert Pharmaceuticals in a research note on Wednesday, August 24th. They issued a “buy” rating and a $17.00 target price on the stock. Finally, StockNews.com assumed coverage on Concert Pharmaceuticals in a research note on Wednesday, October 12th. They set a “hold” rating for the company.

Concert Pharmaceuticals Price Performance

Shares of NASDAQ CNCE opened at $4.83 on Friday. The business’s 50-day moving average price is $6.05 and its two-hundred day moving average price is $5.39. Concert Pharmaceuticals has a one year low of $2.57 and a one year high of $7.37. The company has a market capitalization of $175.47 million, a P/E ratio of -1.50 and a beta of 0.50.

Institutional Trading of Concert Pharmaceuticals

Large investors have recently made changes to their positions in the stock. International Biotechnology Trust PLC acquired a new position in shares of Concert Pharmaceuticals during the 2nd quarter worth about $620,000. UBS Group AG lifted its position in shares of Concert Pharmaceuticals by 42.6% during the 3rd quarter. UBS Group AG now owns 13,861 shares of the biotechnology company’s stock worth $94,000 after purchasing an additional 4,142 shares during the last quarter. State Street Corp lifted its position in shares of Concert Pharmaceuticals by 7.2% during the 1st quarter. State Street Corp now owns 75,798 shares of the biotechnology company’s stock worth $255,000 after purchasing an additional 5,058 shares during the last quarter. Roanoke Asset Management Corp NY acquired a new position in shares of Concert Pharmaceuticals during the 1st quarter worth about $34,000. Finally, Acadian Asset Management LLC lifted its position in shares of Concert Pharmaceuticals by 1.4% during the 1st quarter. Acadian Asset Management LLC now owns 794,106 shares of the biotechnology company’s stock worth $2,675,000 after purchasing an additional 11,293 shares during the last quarter. Institutional investors own 82.77% of the company’s stock.

About Concert Pharmaceuticals

(Get Rating)

Concert Pharmaceuticals, Inc operates as a clinical stage biopharmaceutical company that develops novel small molecule drugs for the treatment of autoimmune diseases. The company's lead product candidate is CTP-543, which is in Phase III clinical trial for the treatment of alopecia areata, a serious autoimmune dermatological condition.

Read More

Earnings History and Estimates for Concert Pharmaceuticals (NASDAQ:CNCE)

Receive News & Ratings for Concert Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Concert Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.