Concordia Healthcare Corp. (CXRX) Short Interest Update
Concordia Healthcare Corp. (NASDAQ:CXRX) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 10,895,926 shares, an increase of 28.8% from the September 15th total of 8,459,845 shares. Based on an average daily volume of 2,033,399 shares, the short-interest ratio is presently 5.4 days. Currently, 26.3% of the shares of the stock are sold short.
Several research firms have recently weighed in on CXRX. TD Securities lowered Concordia Healthcare Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. RBC Capital Markets reiterated an “outperform” rating and issued a $18.50 price objective on shares of Concordia Healthcare Corp. in a research note on Wednesday. GMP Securities lowered Concordia Healthcare Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 15th. Goldman Sachs Group Inc. lowered their price objective on Concordia Healthcare Corp. from $26.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, August 15th. Finally, Canaccord Genuity lowered Concordia Healthcare Corp. to a “buy” rating and set a $10.00 price objective on the stock. in a research note on Friday, September 16th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. Concordia Healthcare Corp. presently has an average rating of “Hold” and a consensus price target of $32.41.
Several hedge funds and other institutional investors have recently made changes to their positions in CXRX. HealthInvest Partners AB acquired a new position in shares of Concordia Healthcare Corp. during the second quarter valued at approximately $11,696,000. Taylor Asset Management Inc. boosted its position in shares of 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. Nomura Holdings Inc. boosted its position in shares of 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. PNC Financial Services Group Inc. acquired a new position in shares of Concordia Healthcare Corp. during the second quarter valued at approximately $1,855,000. Finally, Royal Bank of Canada boosted its position in shares of Concordia Healthcare Corp. by 18.2% in the first quarter. Royal Bank of Canada now owns 850,647 shares of the company’s stock valued at $21,776,000 after buying an additional 130,705 shares in the last quarter. 33.93% of the stock is currently owned by institutional investors.
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Concordia Healthcare Corp. (NASDAQ:CXRX) opened at 4.31 on Thursday. The firm’s market cap is $219.88 million. Concordia Healthcare Corp. has a 12-month low of $4.26 and a 12-month high of $44.00. The firm’s 50-day moving average price is $6.25 and its 200 day moving average price is $18.74.
Concordia Healthcare Corp. (NASDAQ:CXRX) last announced its earnings results on Friday, August 12th. The company reported $1.38 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate 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 firm’s quarterly revenue was up 208.1% compared to the same quarter last year. Analysts forecast that Concordia Healthcare Corp. will post $5.15 earnings per share for the current fiscal year.
About Concordia Healthcare Corp.
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