Concordia International Corp. (NASDAQ:CXRX) Rating Lowered to Sell at Zacks Investment Research
Concordia International Corp. (NASDAQ:CXRX) (TSE:CXR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Concordia International Corp is a diverse pharmaceutical company which focused on legacy pharmaceutical products and orphan drugs. The company also markets orphan drugs through its Orphan Drug Division, currently consisting of Photofrin(R) for the treatment of certain rare forms of cancer, which is currently undergoing testing for potential new indications. Concordia International Corp, formerly known as Concordia Healthcare Corp, is headquartered in Oakville, Canada. “
Separately, ValuEngine cut Concordia International Corp. from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Seven research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock presently has a consensus rating of “Sell” and a consensus target price of $9.80.
Concordia International Corp. (NASDAQ CXRX) traded down 0.63% during midday trading on Tuesday, hitting $1.58. The stock had a trading volume of 296,320 shares. The company has a 50-day moving average price of $1.30 and a 200-day moving average price of $1.80. Concordia International Corp. has a 52 week low of $1.09 and a 52 week high of $21.08. The stock’s market cap is $80.72 million.
Concordia International Corp. (NASDAQ:CXRX) (TSE:CXR) last issued its quarterly earnings results on Wednesday, May 10th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of $0.52 by $0.89. The firm had revenue of $160.56 million for the quarter, compared to analysts’ expectations of $168.09 million. Concordia International Corp. had a negative net margin of 185.54% and a negative return on equity of 83.96%. The firm’s quarterly revenue was down 29.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.09) EPS. Equities analysts expect that Concordia International Corp. will post $1.26 EPS for the current year.
Institutional investors have recently made changes to their positions in the company. Morgan Stanley raised its position in shares of Concordia International Corp. by 467.8% in the first quarter. Morgan Stanley now owns 1,012,978 shares of the company’s stock worth $1,651,000 after buying an additional 834,576 shares in the last quarter. FMR LLC purchased a new position in shares of Concordia International Corp. during the first quarter valued at approximately $108,000. Toronto Dominion Bank raised its position in shares of Concordia International Corp. by 1.0% in the first quarter. Toronto Dominion Bank now owns 81,608 shares of the company’s stock valued at $132,000 after buying an additional 782 shares during the period. Norges Bank purchased a new position in shares of Concordia International Corp. during the fourth quarter valued at approximately $1,721,000. Finally, Allianz Asset Management AG raised its position in shares of Concordia International Corp. by 78.5% in the fourth quarter. Allianz Asset Management AG now owns 125,086 shares of the company’s stock valued at $265,000 after buying an additional 54,998 shares during the period. Institutional investors and hedge funds own 13.52% of the company’s stock.
Concordia International Corp. Company Profile
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Concordia International Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Concordia International Corp. and related companies with MarketBeat.com's FREE daily email newsletter.