Concert Pharmaceuticals Inc. [CNCE] Stock trading around $8.36 per share: What’s Next?

Concert Pharmaceuticals Inc. [NASDAQ: CNCE] stock went on a downward path that fall over -0.36% on Thursday, amounting to a one-week price decrease of less than -0.36%. The company report on February 15, 2023 that Concert Pharmaceuticals Maintains Deuruxolitinib Breakthrough Therapy Designation from FDA for the Treatment of Alopecia Areata.

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Concert Pharmaceuticals, Inc. today announced that, after a recent review of deuruxolitinib clinical data by the U.S. Food and Drug Administration (FDA), the FDA determined that deuruxolitinib will maintain its Breakthrough Therapy designation. Deuruxolitinib, an oral Janus kinase (JAK) inhibitor, is being developed for the treatment of adult patients with moderate to severe alopecia areata.

In light of the FDA approval of a different JAK inhibitor as the first treatment for alopecia areata, the FDA previously notified Concert that it was reviewing the Breakthrough Therapy designation previously granted for deuruxolitinib. At the FDA’s request, Concert submitted additional clinical data and justification to support the continued eligibility of deuruxolitinib for the designation. The FDA has now informed Concert that, after reviewing these data, the Breakthrough Therapy designation criteria continue to be met at this time.

Over the last 12 months, CNCE stock rose by 177.74%. The one-year Concert Pharmaceuticals Inc. stock forecast points to a potential upside of 28.36. The average equity rating for CNCE stock is currently 2.40, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $401.28 million, with 49.73 million shares outstanding and 43.92 million shares in the current float. Compared to the average trading volume of 1.94M shares, CNCE stock reached a trading volume of 4637373 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Concert Pharmaceuticals Inc. [CNCE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CNCE shares is $11.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CNCE stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Berenberg have made an estimate for Concert Pharmaceuticals Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 16, 2020. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on March 30, 2020, representing the official price target for Concert Pharmaceuticals Inc. stock. Previously, the target price had yet another drop from $29 to $25, while H.C. Wainwright kept a Buy rating on CNCE stock.

The Average True Range (ATR) for Concert Pharmaceuticals Inc. is set at 0.11, with the Price to Sales ratio for CNCE stock in the period of the last 12 months amounting to 12.52. The Price to Book ratio for the last quarter was 3.12, with the Price to Cash per share for the same quarter was set at 3.11.

CNCE Stock Performance Analysis:

Concert Pharmaceuticals Inc. [CNCE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.36. With this latest performance, CNCE shares gained by 0.24% in over the last four-week period, additionally plugging by 27.63% over the last 6 months – not to mention a rise of 177.74% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CNCE stock in for the last two-week period is set at 66.23, with the RSI for the last a single of trading hit 58.93, and the three-weeks RSI is set at 66.99 for Concert Pharmaceuticals Inc. [CNCE]. The present Moving Average for the last 50 days of trading for this stock 7.41, while it was recorded at 8.38 for the last single week of trading, and 5.96 for the last 200 days.

Insight into Concert Pharmaceuticals Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Concert Pharmaceuticals Inc. [CNCE] shares currently have an operating margin of -237.92 and a Gross Margin at +94.28. Concert Pharmaceuticals Inc.’s Net Margin is presently recorded at -245.72.

Return on Equity for this stock declined to -65.78, with Return on Assets sitting at -49.33.

Concert Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.00 and a Current Ratio set at 9.00.

Concert Pharmaceuticals Inc. [CNCE] Insider Position Details

There are presently around $296 million, or 72.70% of CNCE stock, in the hands of institutional investors. The top three institutional holders of CNCE stocks are: KYNAM CAPITAL MANAGEMENT, LP with ownership of 4,420,349, which is approximately 164.21% of the company’s market cap and around 0.10% of the total institutional ownership; BVF INC/IL, holding 3,629,000 shares of the stock with an approximate value of $30.34 million in CNCE stocks shares; and VANGUARD GROUP INC, currently with $15.98 million in CNCE stock with ownership of nearly 3.758% of the company’s market capitalization.

Positions in Concert Pharmaceuticals Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 46 institutional holders increased their position in Concert Pharmaceuticals Inc. [NASDAQ:CNCE] by around 7,514,281 shares. Additionally, 37 investors decreased positions by around 6,010,476 shares, while 15 investors held positions by with 21,914,906 shares. The mentioned changes placed institutional holdings at 35,439,663 shares, according to the latest SEC report filing. CNCE stock had 18 new institutional investments in for a total of 1,102,837 shares, while 14 institutional investors sold positions of 4,570,377 shares during the same period.


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