Concert Pharmaceuticals Inc to Post Q2 2019 Earnings of ($0.87) Per Share, SunTrust Banks Forecasts (NASDAQ:CNCE)

Concert Pharmaceuticals Inc (NASDAQ:CNCE) – Research analysts at SunTrust Banks issued their Q2 2019 earnings per share (EPS) estimates for shares of Concert Pharmaceuticals in a research note issued to investors on Monday, June 24th, according to Zacks Investment Research. SunTrust Banks analyst J. Lee expects that the biotechnology company will post earnings of ($0.87) per share for the quarter. SunTrust Banks has a “Buy” rating and a $30.00 price target on the stock. SunTrust Banks also issued estimates for Concert Pharmaceuticals’ Q3 2019 earnings at ($0.87) EPS, Q4 2019 earnings at ($0.86) EPS, FY2019 earnings at ($3.53) EPS, FY2020 earnings at ($3.25) EPS, FY2021 earnings at ($1.83) EPS and FY2022 earnings at ($1.08) EPS.

Concert Pharmaceuticals (NASDAQ:CNCE) last issued its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.31). The firm had revenue of $1.01 million during the quarter, compared to analysts’ expectations of $16.08 million. Concert Pharmaceuticals had a negative return on equity of 41.72% and a negative net margin of 7,118.04%.

A number of other equities analysts have also commented on the company. Janney Montgomery Scott raised Concert Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $16.00 in a research note on Thursday, June 13th. JMP Securities set a $79.00 price target on LGI Homes and gave the company a “buy” rating in a research report on Tuesday, April 9th. BidaskClub raised Westport Fuel Systems from a “hold” rating to a “buy” rating in a report on Friday, July 12th. Mizuho reiterated a “buy” rating on shares of Supernus Pharmaceuticals in a research note on Friday, May 17th. Finally, ValuEngine downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $21.29.

NASDAQ:CNCE traded down $0.29 on Wednesday, reaching $10.93. The stock had a trading volume of 53,201 shares, compared to its average volume of 233,468. Concert Pharmaceuticals has a 12-month low of $9.21 and a 12-month high of $17.86. The stock’s fifty day simple moving average is $11.26. The company has a current ratio of 20.44, a quick ratio of 20.44 and a debt-to-equity ratio of 0.11. The stock has a market cap of $267.04 million, a P/E ratio of -4.56 and a beta of 0.92.

In other news, major shareholder Bvf Partners L. P/Il sold 386,289 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $10.70, for a total value of $4,133,292.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 9.40% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can purchased a new position in Concert Pharmaceuticals in the fourth quarter valued at approximately $48,000. BNP Paribas Arbitrage SA increased its stake in Concert Pharmaceuticals by 63,200.0% in the first quarter. BNP Paribas Arbitrage SA now owns 4,431 shares of the biotechnology company’s stock valued at $53,000 after acquiring an additional 4,424 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Concert Pharmaceuticals by 452.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 7,553 shares of the biotechnology company’s stock valued at $95,000 after acquiring an additional 6,185 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Concert Pharmaceuticals by 21.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 9,000 shares of the biotechnology company’s stock valued at $143,000 after buying an additional 1,600 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Concert Pharmaceuticals during the first quarter valued at about $143,000. 74.60% of the stock is owned by institutional investors.

About Concert Pharmaceuticals

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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