Concert Pharmaceuticals (NASDAQ:CNCE) Downgraded to Hold at Jefferies Financial Group

Concert Pharmaceuticals (NASDAQ:CNCEGet Rating) was downgraded by analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued on Thursday, The Fly reports.

Other analysts have also issued research reports about the company. StockNews.com upgraded Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, December 9th. Truist Financial lowered Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday. Finally, JMP Securities lowered Concert Pharmaceuticals to a “market perform” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $19.67.

Concert Pharmaceuticals Stock Performance

NASDAQ CNCE opened at $8.28 on Thursday. The company has a market capitalization of $396.93 million, a P/E ratio of -2.58 and a beta of 0.30. Concert Pharmaceuticals has a one year low of $2.57 and a one year high of $8.34. The stock has a 50 day moving average price of $5.48 and a 200-day moving average price of $5.81.

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

Insiders Place Their Bets

In other Concert Pharmaceuticals news, CEO Roger D. Tung sold 9,240 shares of the stock in a transaction on Friday, January 6th. The stock was sold at an average price of $7.24, for a total value of $66,897.60. Following the sale, the chief executive officer now owns 971,018 shares in the company, valued at $7,030,170.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 11.33% of the company’s stock.

Hedge Funds Weigh In On Concert Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. International Biotechnology Trust PLC purchased a new position in shares of Concert Pharmaceuticals during the second quarter valued at $620,000. Jane Street Group LLC purchased a new position in shares of Concert Pharmaceuticals during the third quarter valued at $70,000. BNP Paribas Arbitrage SNC increased its stake in shares of Concert Pharmaceuticals by 9,436.2% during the third quarter. BNP Paribas Arbitrage SNC now owns 11,062 shares of the biotechnology company’s stock valued at $74,000 after buying an additional 10,946 shares during the period. UBS Group AG increased its stake in shares of Concert Pharmaceuticals by 42.6% during the third quarter. UBS Group AG now owns 13,861 shares of the biotechnology company’s stock valued at $94,000 after buying an additional 4,142 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Concert Pharmaceuticals during the first quarter valued at $47,000. Hedge funds and other institutional investors own 70.63% of the company’s stock.

About Concert Pharmaceuticals

(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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