Is Concert Pharmaceuticals Stock a Good Buy?

Concert Pharmaceuticals Stock

Concert Pharmaceuticals (CNCE:NSD) has been recently analyzed by multiple research firms. Jefferies Financial Group, Truist Financial, and JMP Securities all lowered their ratings on the stock to “Hold” and “Market Perform”. Jonestrading reiterated a “Hold” rating on the stock around the same time.

CNCE Ratings by Stock Target Advisor

 

Concert Pharmaceuticals Stock Price Analysis:

Shares of Concert Pharmaceuticals stock opened at $8.37 on Tuesday, trading up 0.1%. The stock has a 1-year low of $2.66 and a 1-year high of $8.55.

The firm has a market capitalization of $401.26 million, a price-to-earnings ratio of -2.61, and a beta of 0.52. The 50-day and 200-day simple moving averages are $8.31 and $6.58, respectively.

Stock Target Advisor reports that the consensus rating for Concert Pharmaceuticals is “Hold” with a target price of $11.00.

CNCE Ratings by Stock Target Advisor

Insider Transactions:

In insider transactions, COO Nancy Stuart sold 13,200 shares of Concert Pharmaceuticals stock on January 30th for $110,220.00, and CEO Roger D. Tung sold 9,240 shares of the stock on January 6th for $66,897.60.

In the last 90 days, insiders have sold a total of 43,636 shares of the CNCE stock valued at $350,763. Insiders now own 11.33% of the company’s stock.

 

Hedge Funds & Institutional Holdings:

Institutional investors have recently made changes to their holdings in CNCE. Vanguard Group Inc. increased its position in shares of Concert Pharmaceuticals by 15.9% during the third quarter, while Nantahala Capital Management LLC and Kynam Capital Management LP also grew their holdings in the same period.

Millennium Management LLC and Point72 Asset Management L.P. both increased their holdings during the fourth quarter. Hedge funds and institutional investors now own 70.63% of the Concert Pharmaceuticals stock.

 

Company Profile:

Concert Pharmaceuticals, Inc. operates as a clinical-stage biopharmaceutical company that develops novel small-molecule drugs for the treatment of autoimmune diseases.

The company’s lead product candidate is CTP-543, which is in Phase III clinical trial for the treatment of alopecia areata, a serious autoimmune dermatological condition. It has strategic collaborations with Avanir Pharmaceuticals, Inc.; Jazz Pharmaceuticals, Inc.; Cipla Technologies; and Processa Pharmaceuticals.

The company was incorporated in 2006 and is headquartered in Lexington, Massachusetts. As of March 6, 2023, Concert Pharmaceuticals, Inc. operates as a subsidiary of Sun Pharmaceutical Industries Limited.

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