Concordia Healthcare Corp. (CXRX) Given Average Recommendation of “Hold” by Analysts
Concordia Healthcare Corp. (NASDAQ:CXRX) has been given a consensus recommendation of “Hold” by the fourteen research firms that are presently covering the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $41.28.
Several research firms have recently weighed in on CXRX. Canaccord Genuity restated a “buy” rating on shares of Concordia Healthcare Corp. in a report on Sunday, June 26th. GMP Securities cut Concordia Healthcare Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 15th. TD Securities restated a “hold” rating and set a $14.00 price target (down from $20.00) on shares of Concordia Healthcare Corp. in a report on Wednesday, August 17th. Royal Bank Of Canada restated an “outperform” rating and set a $73.00 price target on shares of Concordia Healthcare Corp. in a report on Tuesday, June 21st. Finally, Zacks Investment Research cut Concordia Healthcare Corp. from a “buy” rating to a “hold” rating in a report on Monday, July 18th.
Concordia Healthcare Corp. (NASDAQ:CXRX) remained flat at $4.31 during mid-day trading on Wednesday. The company had a trading volume of 494,334 shares. Concordia Healthcare Corp. has a 12-month low of $4.26 and a 12-month high of $44.00. The stock’s 50 day moving average price is $6.38 and its 200-day moving average price is $18.84. The company’s market capitalization is $219.88 million.
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Concordia Healthcare Corp. (NASDAQ:CXRX) last released its quarterly earnings results on Friday, August 12th. The company reported $1.38 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.38. The company had revenue of $231.70 million for the quarter, compared to analysts’ expectations of $229.76 million. Concordia Healthcare Corp. had a positive return on equity of 25.18% and a negative net margin of 81.80%. Concordia Healthcare Corp.’s revenue for the quarter was up 208.1% on a year-over-year basis. On average, equities research analysts predict that Concordia Healthcare Corp. will post $5.15 EPS for the current year.
A number of institutional investors have recently modified their holdings of CXRX. Point72 Asset Management L.P. increased its stake in Concordia Healthcare Corp. by 1,738.9% in the second quarter. Point72 Asset Management L.P. now owns 1,197,100 shares of the company’s stock valued at $25,786,000 after buying an additional 1,132,000 shares in the last quarter. Taylor Asset Management Inc. increased its stake 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 valued at $19,895,000 after buying an additional 655,000 shares in the last quarter. HealthInvest Partners AB purchased a new stake in Concordia Healthcare Corp. during the second quarter valued at approximately $11,696,000. Nomura Holdings Inc. increased its stake in Concordia Healthcare Corp. by 1,183.4% in the second quarter. Nomura Holdings Inc. now owns 552,150 shares of the company’s stock valued at $11,939,000 after buying an additional 509,127 shares in the last quarter. Finally, Wingspan Investment Management LP purchased a new stake in Concordia Healthcare Corp. during the second quarter valued at approximately $8,374,000. 33.93% of the stock is currently owned by hedge funds and other institutional investors.
About Concordia Healthcare Corp.
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