Constellation Pharmaceuticals (NASDAQ:CNST) Upgraded at Zacks Investment Research

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Zacks Investment Research upgraded shares of Constellation Pharmaceuticals (NASDAQ:CNST) from a sell rating to a buy rating in a research report released on Wednesday, Zacks.com reports. The brokerage currently has $8.75 price target on the stock.

According to Zacks, “Constellation Pharmaceuticals, Inc. operates as a bio-pharmaceutical company. It discovers and develops molecule therapeutics for the treatment of cancer, inflammatory and immunologic disorders. The company’s lead product candidates consists of CPI-1205, which inhibits enhancer of zeste homolog 2 and CPI-0610, which inhibits bromodomain and extra terminal domain. Constellation Pharmaceuticals, Inc. is based in Cambridge, United States. “

Several other brokerages also recently commented on CNST. ValuEngine downgraded Constellation Pharmaceuticals from a buy rating to a hold rating in a research report on Monday, September 30th. Royal Bank of Canada began coverage on Constellation Pharmaceuticals in a research report on Wednesday, September 4th. They issued an outperform rating and a $20.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $16.35.

Shares of Constellation Pharmaceuticals stock opened at $8.71 on Wednesday. The stock’s fifty day moving average is $7.42 and its two-hundred day moving average is $9.75. The company has a quick ratio of 5.85, a current ratio of 5.85 and a debt-to-equity ratio of 0.44. Constellation Pharmaceuticals has a 52 week low of $4.01 and a 52 week high of $14.04.

Constellation Pharmaceuticals (NASDAQ:CNST) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.80) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.80). As a group, research analysts predict that Constellation Pharmaceuticals will post -2.95 EPS for the current year.

In other news, Director Anthony B. Evnin bought 2,823,529 shares of the stock in a transaction on Thursday, October 3rd. The stock was acquired at an average cost of $8.50 per share, for a total transaction of $23,999,996.50. Also, major shareholder Group L. P. Column bought 1,411,764 shares of the stock in a transaction on Thursday, October 3rd. The stock was purchased at an average price of $8.50 per share, with a total value of $11,999,994.00. 43.70% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of CNST. Vanguard Group Inc. lifted its holdings in shares of Constellation Pharmaceuticals by 30.7% in the 2nd quarter. Vanguard Group Inc. now owns 530,331 shares of the company’s stock worth $6,513,000 after buying an additional 124,591 shares during the period. P.A.W. Capital Corp purchased a new stake in shares of Constellation Pharmaceuticals in the 2nd quarter worth $1,474,000. BlackRock Inc. lifted its holdings in shares of Constellation Pharmaceuticals by 13.0% in the 2nd quarter. BlackRock Inc. now owns 820,432 shares of the company’s stock worth $10,074,000 after buying an additional 94,107 shares during the period. Alps Advisors Inc. purchased a new stake in shares of Constellation Pharmaceuticals in the 2nd quarter worth $663,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Constellation Pharmaceuticals in the 2nd quarter worth $329,000. Institutional investors and hedge funds own 65.71% of the company’s stock.

About Constellation Pharmaceuticals

Constellation Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing therapeutics that address serious unmet medical needs in patients with cancers associated with abnormal gene expression or drug resistance. The company's lead product candidates include CPI-0610 that is in Phase II clinical trials for the treatment of patients with myelofibrosis in combination with ruxolitinib; and CPI-1205 that is in Phase Ib/II clinical trials for the treatment of metastatic castration-resistant prostate cancer in combination with androgen receptor signaling inhibitors.

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