Concordia Healthcare Corp. (CXRX) Earns Sector Perform Rating from Scotiabank
Concordia Healthcare Corp. (NASDAQ:CXRX)‘s stock had its “sector perform” rating reissued by equities researchers at Scotiabank in a research note issued to investors on Wednesday. They presently have a $4.50 target price on the stock, down from their prior target price of $8.00. Scotiabank’s price objective would indicate a potential upside of 4.41% from the stock’s current price.
Several other brokerages have also recently issued reports on CXRX. Zacks Investment Research upgraded Concordia Healthcare Corp. from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Wednesday, July 13th. RBC Capital Markets restated an “outperform” rating and issued a $38.00 price objective (up from $33.00) on shares of Concordia Healthcare Corp. in a research note on Sunday, September 4th. Canaccord Genuity restated a “buy” rating and issued a $10.00 price objective on shares of Concordia Healthcare Corp. in a research note on Wednesday, October 5th. Goldman Sachs Group Inc. restated a “neutral” rating on shares of Concordia Healthcare Corp. in a research note on Tuesday, September 27th. Finally, TD Securities restated a “buy” rating and issued a $37.00 price objective (down from $45.00) on shares of Concordia Healthcare Corp. in a research note on Wednesday, June 29th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $32.41.
Concordia Healthcare Corp. (NASDAQ:CXRX) remained flat at $4.31 during midday trading on Wednesday. 809,022 shares of the stock traded hands. The company’s market capitalization is $219.88 million. The firm’s 50 day moving average is $6.38 and its 200-day moving average is $18.84. Concordia Healthcare Corp. has a one year low of $4.26 and a one year high of $44.00.
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Concordia Healthcare Corp. (NASDAQ:CXRX) last issued its quarterly earnings results on Friday, August 12th. The company reported $1.38 earnings per share for the quarter, hitting the consensus estimate of $1.38. The business earned $231.70 million during the quarter, compared to the consensus estimate 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 business’s quarterly revenue was up 208.1% on a year-over-year basis. Equities research analysts anticipate that Concordia Healthcare Corp. will post $5.15 EPS for the current year.
Several hedge funds have recently modified their holdings of CXRX. HealthInvest Partners AB purchased a new stake in shares of Concordia Healthcare Corp. during the second quarter worth about $11,696,000. Swiss National Bank raised its position in Concordia Healthcare Corp. by 26.7% in the fourth quarter. Swiss National Bank now owns 49,810 shares of the company’s stock worth $2,031,000 after buying an additional 10,510 shares during the period. Great West Life Assurance Co. Can raised its position in Concordia Healthcare Corp. by 140.9% in the fourth quarter. Great West Life Assurance Co. Can now owns 1,104,659 shares of the company’s stock worth $45,243,000 after buying an additional 646,091 shares during the period. Taylor Asset Management Inc. raised its position in Concordia Healthcare Corp. by 244.0% in the second quarter. Taylor Asset Management Inc. now owns 923,400 shares of the company’s stock worth $19,895,000 after buying an additional 655,000 shares during the period. Finally, Nebula Capital Management LP bought a new position in Concordia Healthcare Corp. during the fourth quarter worth $6,476,000. 33.93% of the stock is currently owned by hedge funds and other institutional investors.
About Concordia Healthcare Corp.
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