Concordia Healthcare Corp. (CXRX) Given Buy Rating at Canaccord Genuity
Concordia Healthcare Corp. (NASDAQ:CXRX)‘s stock had its “buy” rating reaffirmed by Canaccord Genuity in a research note issued to investors on Wednesday. They currently have a $10.00 price target on the stock. Canaccord Genuity’s price target indicates a potential upside of 120.75% from the company’s previous close.
CXRX has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Concordia Healthcare Corp. from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Wednesday, July 13th. RBC Capital Markets restated an “outperform” rating and set a $38.00 target price (up previously from $33.00) on shares of Concordia Healthcare Corp. in a research note on Sunday, September 4th. Goldman Sachs Group Inc. restated a “neutral” rating on shares of Concordia Healthcare Corp. in a research note on Tuesday, September 27th. TD Securities reiterated a “buy” rating and set a $37.00 price objective (down previously from $45.00) on shares of Concordia Healthcare Corp. in a research report on Wednesday, June 29th. Finally, CIBC cut shares of Concordia Healthcare Corp. from a “sector perform” rating to an “underperform” rating and set a $7.80 price objective on the stock. in a research report on Monday, August 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $37.79.
Concordia Healthcare Corp. (NASDAQ:CXRX) traded down 4.63% during midday trading on Wednesday, reaching $4.53. 959,542 shares of the company were exchanged. The company has a 50-day moving average of $6.65 and a 200 day moving average of $19.28. Concordia Healthcare Corp. has a 52 week low of $4.43 and a 52 week high of $44.00. The firm’s market capitalization is $231.11 million.
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Concordia Healthcare Corp. (NASDAQ:CXRX) last released its earnings results on Friday, August 12th. The company reported $1.38 EPS for the quarter, hitting analysts’ consensus estimates of $1.38. Concordia Healthcare Corp. had a negative net margin of 81.80% and a positive return on equity of 25.18%. The company had revenue of $231.70 million for the quarter, compared to analysts’ expectations of $229.76 million. The business’s revenue was up 208.1% on a year-over-year basis. Equities analysts predict that Concordia Healthcare Corp. will post $5.15 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC raised its position in Concordia Healthcare Corp. by 0.6% in the second quarter. ProShare Advisors LLC now owns 37,975 shares of the company’s stock valued at $818,000 after buying an additional 224 shares during the last quarter. Citigroup Inc. raised its position in Concordia Healthcare Corp. by 18.5% in the second quarter. Citigroup Inc. now owns 8,976 shares of the company’s stock valued at $184,000 after buying an additional 1,401 shares during the last quarter. Legal & General Group Plc raised its position in Concordia Healthcare Corp. by 91.2% in the first quarter. Legal & General Group Plc now owns 4,403 shares of the company’s stock valued at $113,000 after buying an additional 2,100 shares during the last quarter. Geode Capital Management LLC raised its position in Concordia Healthcare Corp. by 12.4% in the first quarter. Geode Capital Management LLC now owns 20,553 shares of the company’s stock valued at $526,000 after buying an additional 2,270 shares during the last quarter. Finally, HRS Investment Holdings LLC raised its position in Concordia Healthcare Corp. by 100.0% in the first quarter. HRS Investment Holdings LLC now owns 15,400 shares of the company’s stock valued at $394,000 after buying an additional 7,700 shares during the last quarter. 33.93% of the stock is owned by institutional investors.
Concordia Healthcare Corp. Company Profile
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