Concordia Healthcare Corp. (CXRX) Reaches New 52-Week Low at $17.10
Concordia Healthcare Corp. (NASDAQ:CXRX) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $17.10 and last traded at $17.23, with a volume of 94,853 shares. The stock had previously closed at $17.45.
A number of equities research analysts have issued reports on CXRX shares. Canaccord Genuity reiterated a “buy” rating on shares of Concordia Healthcare Corp. in a research note on Sunday, June 26th. TD Securities reiterated a “buy” rating and issued a $37.00 price target (down previously from $45.00) on shares of Concordia Healthcare Corp. in a research note on Wednesday, June 29th. Zacks Investment Research upgraded Concordia Healthcare Corp. from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Wednesday, July 13th. Goldman Sachs Group Inc. assumed coverage on shares of Concordia Healthcare Corp. in a report on Monday, June 6th. They set a “neutral” rating and a $32.00 price objective for the company. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $73.00 price objective on shares of Concordia Healthcare Corp. in a report on Tuesday, June 21st. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Concordia Healthcare Corp. currently has an average rating of “Buy” and an average target price of $48.88.
The firm’s market capitalization is $737.18 million. The company’s 50-day moving average price is $20.57 and its 200 day moving average price is $26.19.
Concordia Healthcare Corp. (NASDAQ:CXRX) last released its quarterly earnings data on Friday, May 13th. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by $0.19. The business had revenue of $228.50 million for the quarter, compared to the consensus estimate of $231 million. Concordia Healthcare Corp.’s revenue was up 570.1% on a year-over-year basis. On average, analysts expect that Concordia Healthcare Corp. will post $6.09 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Friday, July 15th were issued a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, July 13th. This represents a $0.30 dividend on an annualized basis and a yield of 2.08%.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in CXRX. Swiss National Bank boosted its position in Concordia Healthcare Corp. by 26.7% in the fourth quarter. Swiss National Bank now owns 49,810 shares of the company’s stock worth $2,031,000 after buying an additional 10,510 shares during the last quarter. Morgan Stanley boosted its position in Concordia Healthcare Corp. by 24.6% in the fourth quarter. Morgan Stanley now owns 269,768 shares of the company’s stock worth $11,015,000 after buying an additional 53,305 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its position in Concordia Healthcare Corp. by 294.2% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 850,645 shares of the company’s stock worth $34,732,000 after buying an additional 634,880 shares during the last quarter.
Concordia Healthcare Corp. is a Canada-based diverse healthcare company. The Company is focused on legacy pharmaceutical products and orphan drugs. The Company operates through three segments, which includes Legacy Pharmaceutical Division, Concordia Pharmaceuticals Inc, which consists of 23 products, including Nilandron, for the treatment of metastatic prostate cancer; Dibenzyline, for the treatment of pheochromocytoma; Lanoxin, for the treatment of mild-to-moderate heart failure and atrial fibrillation; Plaquenil, for the treatment of lupus and rheumatoid arthritis; Donnatal, for the treatment of irritable bowel syndrome, and Zonegran (zonisamide), for treatment of partial seizures in adults with epilepsy.
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