Concert Pharmaceuticals (NASDAQ:CNCE) Stock Price Crosses Above 50-Day Moving Average of $4.12

Concert Pharmaceuticals, Inc. (NASDAQ:CNCE)’s stock price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $4.12 and traded as high as $4.12. Concert Pharmaceuticals shares last traded at $4.01, with a volume of 274,007 shares trading hands.

A number of equities analysts recently issued reports on CNCE shares. Zacks Investment Research downgraded shares of Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, May 7th. Mizuho reissued a “buy” rating and issued a $13.00 price target on shares of Concert Pharmaceuticals in a research note on Tuesday, May 4th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Concert Pharmaceuticals presently has an average rating of “Buy” and an average price target of $17.80.

The firm has a market cap of $129.02 million, a price-to-earnings ratio of -1.69 and a beta of 0.50. The stock has a fifty day moving average price of $4.12.

Concert Pharmaceuticals (NASDAQ:CNCE) last announced its quarterly earnings data on Tuesday, May 4th. The biotechnology company reported ($0.67) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.66) by ($0.01). The business had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $1.50 million. Concert Pharmaceuticals had a negative return on equity of 59.51% and a negative net margin of 974.15%. As a group, equities analysts expect that Concert Pharmaceuticals, Inc. will post -2.62 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its holdings in Concert Pharmaceuticals by 11.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 20,158 shares of the biotechnology company’s stock worth $255,000 after purchasing an additional 2,126 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Concert Pharmaceuticals by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 71,968 shares of the biotechnology company’s stock valued at $910,000 after buying an additional 2,143 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Concert Pharmaceuticals by 20.6% during the first quarter. New York State Common Retirement Fund now owns 23,400 shares of the biotechnology company’s stock valued at $117,000 after buying an additional 4,000 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Concert Pharmaceuticals by 24.5% during the fourth quarter. Panagora Asset Management Inc. now owns 24,113 shares of the biotechnology company’s stock valued at $305,000 after buying an additional 4,751 shares during the last quarter. Finally, Citigroup Inc. grew its holdings in shares of Concert Pharmaceuticals by 375.9% during the fourth quarter. Citigroup Inc. now owns 6,539 shares of the biotechnology company’s stock valued at $83,000 after buying an additional 5,165 shares during the last quarter. Institutional investors and hedge funds own 64.71% of the company’s stock.

About Concert Pharmaceuticals (NASDAQ:CNCE)

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

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