Alambic Investment Management L.P. trimmed its position in shares of Concert Pharmaceuticals Inc (NASDAQ:CNCE) by 16.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,900 shares of the biotechnology company’s stock after selling 3,416 shares during the period. Alambic Investment Management L.P.’s holdings in Concert Pharmaceuticals were worth $158,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Citigroup Inc. lifted its stake in shares of Concert Pharmaceuticals by 64.8% during the 4th quarter. Citigroup Inc. now owns 5,135 shares of the biotechnology company’s stock valued at $47,000 after buying an additional 2,020 shares in the last quarter. Raymond James & Associates bought a new stake in Concert Pharmaceuticals during the fourth quarter valued at about $102,000. AQR Capital Management LLC purchased a new position in shares of Concert Pharmaceuticals in the fourth quarter valued at about $126,000. American International Group Inc. boosted its stake in shares of Concert Pharmaceuticals by 17.5% in the first quarter. American International Group Inc. now owns 15,850 shares of the biotechnology company’s stock worth $140,000 after acquiring an additional 2,360 shares during the period. Finally, Trexquant Investment LP purchased a new stake in shares of Concert Pharmaceuticals during the first quarter worth about $156,000. Hedge funds and other institutional investors own 53.75% of the company’s stock.
Several research analysts have weighed in on the company. Stifel Nicolaus downgraded Concert Pharmaceuticals to a “hold” rating and upped their price target for the stock from $8.00 to $11.00 in a research note on Thursday, February 27th. Mizuho restated a “buy” rating and set a $18.00 target price on shares of Concert Pharmaceuticals in a research report on Wednesday, January 29th. BidaskClub cut shares of Concert Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. ValuEngine cut shares of Concert Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 27th. Finally, Zacks Investment Research upgraded Concert Pharmaceuticals from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Wednesday, April 29th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $18.43.
Shares of NASDAQ:CNCE traded up $0.12 during trading on Friday, hitting $10.11. The company had a trading volume of 101,217 shares, compared to its average volume of 151,245. The company has a debt-to-equity ratio of 0.10, a current ratio of 11.87 and a quick ratio of 11.87. The company has a fifty day simple moving average of $9.31 and a two-hundred day simple moving average of $9.07. Concert Pharmaceuticals Inc has a one year low of $5.36 and a one year high of $13.09.
Concert Pharmaceuticals (NASDAQ:CNCE) last released its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($0.70) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.74) by $0.04. The company had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.02 million. Concert Pharmaceuticals had a negative return on equity of 60.38% and a negative net margin of 97,236.70%. Equities analysts forecast that Concert Pharmaceuticals Inc will post -2.87 EPS for the current year.
Concert Pharmaceuticals 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 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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