Concordia Healthcare Corp. (CXRX) Reaches New 12-Month Low at $11.28
Concordia Healthcare Corp. (NASDAQ:CXRX) shares hit a new 52-week low during trading on Friday . The stock traded as low as $11.28 and last traded at $11.31, with a volume of 5,273,757 shares traded. The stock had previously closed at $16.36.
Several research analysts have commented on CXRX shares. TD Securities reaffirmed a “buy” rating and issued a $37.00 price target (down from $45.00) on shares of Concordia Healthcare Corp. in a research report on Wednesday, June 29th. Canaccord Genuity reaffirmed a “buy” rating on shares of Concordia Healthcare Corp. in a research report on Sunday, June 26th. Zacks Investment Research raised Concordia Healthcare Corp. from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Wednesday, July 13th. Goldman Sachs Group Inc. started coverage on Concordia Healthcare Corp. in a research report on Monday, June 6th. They issued a “neutral” rating and a $32.00 price target on the stock. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $73.00 price target on shares of Concordia Healthcare Corp. in a research report on Thursday, May 26th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $48.88.
The company’s 50 day moving average is $19.22 and its 200 day moving average is $25.62. The company’s market cap is $513.22 million.
Concordia Healthcare Corp. (NASDAQ:CXRX) last issued its earnings results on Friday, August 12th. The company reported $1.38 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.38. The business earned $231.70 million during the quarter, compared to analyst estimates of $229.76 million. The firm’s revenue was up 208.1% on a year-over-year basis. On average, equities research analysts forecast that Concordia Healthcare Corp. will post $5.80 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Friday, July 15th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Wednesday, July 13th.
An institutional investor recently raised its position in Concordia Healthcare Corp. stock. Morgan Stanley raised its position in shares of Concordia Healthcare Corp. (NASDAQ:CXRX) by 24.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 269,768 shares of the company’s stock after buying an additional 53,305 shares during the period. Morgan Stanley owned 0.53% of Concordia Healthcare Corp. worth $11,015,000 as of its most recent filing with the SEC.
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