Cipher Pharmaceuticals (TSE:CPH) Stock Passes Below 50 Day Moving Average – Time to Sell?

Cipher Pharmaceuticals Inc. (TSE:CPH) (NASDAQ:CPHR) shares crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$17.21 and traded as low as C$16.38. Cipher Pharmaceuticals shares last traded at C$16.41, with a volume of 11,515 shares.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group set a C$17.00 price target on shares of Cipher Pharmaceuticals and gave the stock a “hold” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$17.00.

Cipher Pharmaceuticals Stock Performance

The company has a market capitalization of C$416.67 million, a PE ratio of 13.79 and a beta of 1.10. The company has a current ratio of 1.25, a quick ratio of 2.67 and a debt-to-equity ratio of 0.32. The business’s fifty day moving average is C$17.21 and its two-hundred day moving average is C$16.16.

Cipher Pharmaceuticals (TSE:CPH) (NASDAQ:CPHR) last released its quarterly earnings data on Thursday, May 7th. The company reported C$0.33 EPS for the quarter. Cipher Pharmaceuticals had a return on equity of 25.69% and a net margin of 60.82%.The company had revenue of C$17.39 million during the quarter. Equities research analysts predict that Cipher Pharmaceuticals Inc. will post 1.2907348 earnings per share for the current year.

About Cipher Pharmaceuticals

Cipher Pharmaceuticals (TSX: CPH) (OTCQX: CPHRF) is a specialty pharmaceutical company with a robust and diversified portfolio of commercial and early to late-stage products, mainly in dermatology. Cipher acquires products that fulfill unmet medical needs, manages the required clinical development and regulatory approval process, and currently markets those products in Canada, the U.S., and South America.