Cipher Pharmaceuticals (TSE:CPH) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Cipher Pharmaceuticals Inc. (TSE:CPH) (NASDAQ:CPHR) shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$16.67 and traded as high as C$16.84. Cipher Pharmaceuticals shares last traded at C$16.40, with a volume of 9,804 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group set a C$17.00 price objective on shares of Cipher Pharmaceuticals and gave the stock a “hold” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently 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$416.41 million, a PE ratio of 13.78 and a beta of 1.15. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.67 and a current ratio of 1.25. The company has a 50 day moving average price of C$16.67 and a 200 day moving average price of C$16.43.

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