Analysts predict that Concert Pharmaceuticals (NASDAQ:CNCE) will post ($0.62) earnings per share for the current quarter, according to Zacks. Two analysts have provided estimates for Concert Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.64) and the highest estimate coming in at ($0.59). Concert Pharmaceuticals posted earnings per share of ($0.58) during the same quarter last year, which indicates a negative year-over-year growth rate of 6.9%. The firm is expected to announce its next earnings results on Tuesday, August 14th.
According to Zacks, analysts expect that Concert Pharmaceuticals will report full year earnings of ($2.21) per share for the current financial year, with EPS estimates ranging from ($2.22) to ($2.20). For the next fiscal year, analysts expect that the firm will report earnings of ($2.87) per share, with EPS estimates ranging from ($2.97) to ($2.77). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Concert Pharmaceuticals.
Concert Pharmaceuticals (NASDAQ:CNCE) last released its earnings results on Thursday, May 3rd. The biotechnology company reported ($0.19) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.58) by $0.39. Concert Pharmaceuticals had a negative return on equity of 23.57% and a net margin of 67.71%. The company had revenue of $10.48 million for the quarter.
Several equities analysts have weighed in on the company. TheStreet cut Concert Pharmaceuticals from a “b-” rating to a “c” rating in a research note on Thursday, March 29th. Zacks Investment Research cut Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. HC Wainwright boosted their price target on Concert Pharmaceuticals from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, May 4th. Mizuho reissued a “hold” rating and issued a $23.00 price target on shares of Concert Pharmaceuticals in a research note on Thursday, February 1st. Finally, ValuEngine raised Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Concert Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $26.50.
Concert Pharmaceuticals opened at $20.39 on Friday, Marketbeat reports. Concert Pharmaceuticals has a fifty-two week low of $11.88 and a fifty-two week high of $30.71. The stock has a market cap of $470.96 million, a price-to-earnings ratio of 5.00 and a beta of 1.05.
In related news, insider James V. Cassella sold 10,582 shares of the business’s stock in a transaction that occurred on Tuesday, April 17th. The stock was sold at an average price of $20.18, for a total value of $213,544.76. Following the completion of the sale, the insider now owns 30,000 shares of the company’s stock, valued at approximately $605,400. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 9.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Concert Pharmaceuticals by 57.2% during the fourth quarter. BlackRock Inc. now owns 1,786,223 shares of the biotechnology company’s stock worth $46,210,000 after purchasing an additional 649,808 shares during the period. Dimensional Fund Advisors LP boosted its position in Concert Pharmaceuticals by 122.1% during the first quarter. Dimensional Fund Advisors LP now owns 737,646 shares of the biotechnology company’s stock worth $16,892,000 after purchasing an additional 405,592 shares during the period. Millennium Management LLC boosted its position in Concert Pharmaceuticals by 225.8% during the fourth quarter. Millennium Management LLC now owns 725,885 shares of the biotechnology company’s stock worth $18,779,000 after purchasing an additional 503,066 shares during the period. Northern Trust Corp boosted its position in Concert Pharmaceuticals by 45.6% during the first quarter. Northern Trust Corp now owns 636,097 shares of the biotechnology company’s stock worth $14,567,000 after purchasing an additional 199,090 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in Concert Pharmaceuticals during the fourth quarter worth approximately $7,713,000. 74.41% of the stock is owned by hedge funds and other institutional investors.
Concert Pharmaceuticals Company Profile
Concert Pharmaceuticals, Inc operates as a clinical stage biopharmaceutical company. The company discovers and develops novel small molecule drugs for use in the treatment of various pulmonary diseases, including 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, which has completed the Phase 1 clinical trials for the treatment of patients with narcolepsy; and CTP-543, which is in Phase 1 clinical trials for use in the treatment of alopecia areata.
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