Zacks Investment Research upgraded shares of Concordia International Corp. (NASDAQ:CXRX) (TSE:CXR) from a strong sell rating to a hold rating in a research note released 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. “

Other research analysts have also recently issued research reports about the company. Canaccord Genuity cut Concordia International Corp. to a buy rating and set a $10.00 target price on the stock. in a research report on Friday, September 16th. Bloom Burton reaffirmed a hold rating on shares of Concordia International Corp. in a research report on Wednesday, October 26th. Goldman Sachs Group, Inc. (The) reaffirmed a neutral rating on shares of Concordia International Corp. in a research report on Tuesday, September 27th. RBC Capital Markets reaffirmed an outperform rating and set a $18.50 target price on shares of Concordia International Corp. in a research report on Wednesday, October 12th. Finally, Scotiabank reaffirmed a sector perform rating and set a $4.50 target price (down previously from $8.00) on shares of Concordia International Corp. in a research report on Wednesday, October 12th. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $28.16.

Analyst Recommendations for Concordia International Corp. (NASDAQ:CXRX)

Shares of Concordia International Corp. (NASDAQ:CXRX) remained flat at $2.16 during mid-day trading on Tuesday. 159,701 shares of the stock traded hands. The stock’s 50-day moving average price is $2.38 and its 200-day moving average price is $8.48. Concordia International Corp. has a 1-year low of $1.69 and a 1-year high of $35.23. The company’s market cap is $110.20 million.

Concordia International Corp. (NASDAQ:CXRX) last released its quarterly earnings data on Monday, November 7th. The company reported $0.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by $0.36. The firm had revenue of $185.50 million for the quarter, compared to the consensus estimate of $206 million. Concordia International Corp. had a negative net margin of 81.40% and a positive return on equity of 22.81%. The company’s revenue was up 99.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.46 EPS. Equities analysts anticipate that Concordia International Corp. will post $4.05 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in CXRX. Credit Suisse AG purchased a new position in shares of Concordia International Corp. during the third quarter valued at about $363,000. The Manufacturers Life Insurance Company purchased a new position in shares of Concordia International Corp. during the third quarter valued at about $1,012,000. Black Maple Capital Management LP raised its position in shares of Concordia International Corp. by 166.7% in the third quarter. Black Maple Capital Management LP now owns 40,000 shares of the company’s stock valued at $179,000 after buying an additional 25,000 shares in the last quarter. Morgan Stanley raised its position in shares of Concordia International Corp. by 11,075.4% in the third quarter. Morgan Stanley now owns 157,126 shares of the company’s stock valued at $704,000 after buying an additional 155,720 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in shares of Concordia International Corp. by 104.2% in the third quarter. UBS Asset Management Americas Inc. now owns 56,892 shares of the company’s stock valued at $254,000 after buying an additional 29,033 shares in the last quarter. 36.96% of the stock is owned by hedge funds and other institutional investors.

Concordia International Corp. Company Profile

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