Concordia Healthcare Corp. (CXRX) Earns “Outperform” Rating from RBC Capital Markets
Concordia Healthcare Corp. (NASDAQ:CXRX)‘s stock had its “outperform” rating reaffirmed by equities researchers at RBC Capital Markets in a report released on Wednesday. They presently have a $18.50 price objective on the stock. RBC Capital Markets’ price objective points to a potential upside of 329.23% from the stock’s current price.
Several other equities research analysts also recently weighed in on CXRX. Zacks Investment Research upgraded Concordia Healthcare Corp. from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Wednesday, July 13th. TD Securities reiterated a “buy” rating and issued a $37.00 price target (down from $45.00) on shares of Concordia Healthcare Corp. in a report on Wednesday, June 29th. Canaccord Genuity reiterated a “buy” rating on shares of Concordia Healthcare Corp. in a report on Sunday, June 26th. GMP Securities downgraded Concordia Healthcare Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 15th. Finally, Goldman Sachs Group Inc. reduced their price target on Concordia Healthcare Corp. from $26.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, August 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $37.83.
Shares of Concordia Healthcare Corp. (NASDAQ:CXRX) remained flat at $4.31 on Wednesday. 806,322 shares of the company’s stock were exchanged. Concordia Healthcare Corp. has a 1-year low of $4.26 and a 1-year high of $44.00. The stock has a 50 day moving average of $6.38 and a 200-day moving average of $18.84. The stock’s market capitalization is $219.88 million.
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Concordia Healthcare Corp. (NASDAQ:CXRX) last posted its quarterly earnings data on Friday, August 12th. The company reported $1.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.38. The business earned $231.70 million during the quarter, compared to analyst estimates of $229.76 million. Concordia Healthcare Corp. had a positive return on equity of 25.18% and a negative net margin of 81.80%. The firm’s revenue was up 208.1% compared to the same quarter last year. On average, analysts predict that Concordia Healthcare Corp. will post $5.15 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP bought a new position in shares of Concordia Healthcare Corp. during the second quarter worth about $2,383,000. UBS Asset Management Americas Inc. increased its position in shares of Concordia Healthcare Corp. by 64.3% in the second quarter. UBS Asset Management Americas Inc. now owns 27,859 shares of the company’s stock worth $597,000 after buying an additional 10,900 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in shares of Concordia Healthcare Corp. during the second quarter worth about $1,855,000. Emerald Acquisition Ltd. bought a new position in shares of Concordia Healthcare Corp. during the second quarter worth about $1,056,000. Finally, HealthInvest Partners AB bought a new position in shares of Concordia Healthcare Corp. during the second quarter worth about $11,696,000. Institutional investors and hedge funds own 33.93% of the company’s stock.
Concordia Healthcare Corp. Company Profile
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