Concert Pharmaceuticals Inc. (NASDAQ: CNCE) stock fell -0.12% on Friday to $8.28 against a previous-day closing price of $8.29. With 7.57 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.38 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $8.34 whereas the lowest price it dropped to was $8.24. The 52-week range on CNCE shows that it touched its highest point at $8.33 and its lowest point at $2.57 during that stretch. It currently has a 1-year price target of $11.67. Beta for the stock currently stands at 0.41.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CNCE was up-trending over the past week, with a rise of 16.46%, but this was up by 88.18% over a month. Three-month performance surged to 39.86% while six-month performance rose 69.67%. The stock gained 175.08% in the past year, while it has gained 41.78% so far this year. A look at the trailing 12-month EPS for CNCE yields -2.93 with Next year EPS estimates of -2.74. For the next quarter, that number is -0.64. This implies an EPS growth rate of 2.90% for this year and 1.10% for next year.
Float and Shares Shorts:
At present, 49.73 million CNCE shares are outstanding with a float of 43.92 million shares on hand for trading. On Oct 13, 2022, short shares totaled 1.88 million, which was 3.92% higher than short shares on Sep 14, 2022. In addition to Mr. Richard H. Aldrich M.B.A., Mba as the firm’s Co-Founder & Independent Chairman, Dr. Roger D. Tung Ph.D. serves as its Co-Founder, CEO, Pres & Exec. Director.
Through their ownership of 65.46% of CNCE’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 62.42% of CNCE, in contrast to 23.09% held by mutual funds. Shares owned by individuals account for 11.07%. As the largest shareholder in CNCE with 7.57% of the stake, BVF Partners LP holds 3,629,000 shares worth 3,629,000. A second-largest stockholder of CNCE, Perceptive Advisors LLC, holds 2,150,641 shares, controlling over 4.49% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in CNCE, holding 1,824,112 shares or 3.81% stake. With a 2.55% stake in CNCE, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,222,223 shares are owned by the mutual fund manager. The FCP Medical – BioHealth, which owns about 1.64% of CNCE stock, is the second-largest Mutual Fund holder. It holds 788,287 shares valued at 4.6 million. Vanguard Extended Market Index Fu holds 1.26% of the stake in CNCE, owning 605,393 shares worth 3.54 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CNCE since 5 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CNCE analysts setting a high price target of $17.00 and a low target of $9.00, the average target price over the next 12 months is $13.00. Based on these targets, CNCE could surge 105.31% to reach the target high and rise by 8.7% to reach the target low. Reaching the average price target will result in a growth of 57.0% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CNCE will report FY 2022 earnings on 02/29/2024. Analysts have provided yearly estimates in a range of -$2.63 being high and -$3.00 being low. For CNCE, this leads to a yearly average estimate of -$2.77. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Concert Pharmaceuticals Inc. surprised analysts by $0.01 when it reported -$0.58 EPS against a consensus estimate of -$0.59. The surprise factor in the prior quarter was $0.26. Based on analyst estimates, the high estimate for the next quarter is -$0.52 and the low estimate is -$0.81. The average estimate for the next quarter is thus -$0.64.
Summary of Insider Activity:
Insiders traded CNCE stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 19 while that of sell transactions has risen to 6 over the past year. The total number of shares bought during that period was 914,091 while 34,354 shares were sold.