Concordia Healthcare Corp. (CXRX) Trading Down 4.9%
Shares of Concordia Healthcare Corp. (NASDAQ:CXRX) traded down 4.9% during trading on Friday . The company traded as low as $19.39 and last traded at $19.47, with a volume of 192,840 shares. The stock had previously closed at $20.47.
A number of analysts have recently commented on the stock. Canaccord Genuity reiterated a “buy” rating on shares of Concordia Healthcare Corp. in a research note on Sunday, June 26th. CIBC lifted their price target on shares of Concordia Healthcare Corp. from $31.00 to $34.00 and gave the stock a “sector performer” rating in a research note on Tuesday, March 29th. TD Securities dropped their price objective on shares of Concordia Healthcare Corp. from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, March 25th. Royal Bank Of Canada reissued an “outperform” rating and issued a $73.00 price objective on shares of Concordia Healthcare Corp. in a report on Thursday, May 26th. Finally, Zacks Investment Research downgraded shares of Concordia Healthcare Corp. from a “hold” rating to a “sell” rating in a report on Monday, April 18th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $48.88.
The stock’s market cap is $993.28 million. The firm’s 50-day moving average is $22.31 and its 200 day moving average is $27.34.
Concordia Healthcare Corp. (NASDAQ:CXRX) last released its quarterly earnings results on Friday, May 13th. The company reported $1.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.54 by $0.19. The business had revenue of $228.50 million for the quarter, compared to analyst estimates of $231 million. The firm’s revenue for the quarter was up 570.1% compared to the same quarter last year. On average, analysts forecast that Concordia Healthcare Corp. will post $6.17 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Friday, July 15th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Wednesday, July 13th.
Several hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank raised its stake in Concordia Healthcare Corp. by 26.7% in the fourth quarter. Swiss National Bank now owns 49,810 shares of the company’s stock valued at $2,031,000 after buying an additional 10,510 shares during the last quarter. Thornburg Investment Management Inc. raised its stake in Concordia Healthcare Corp. by 48.3% in the fourth quarter. Thornburg Investment Management Inc. now owns 116,235 shares of the company’s stock valued at $4,746,000 after buying an additional 37,847 shares during the last quarter. ProShare Advisors LLC purchased a new stake in Concordia Healthcare Corp. during the fourth quarter valued at approximately $1,671,000. Morgan Stanley raised its stake in Concordia Healthcare Corp. by 24.6% in the fourth quarter. Morgan Stanley now owns 269,768 shares of the company’s stock valued at $11,015,000 after buying an additional 53,305 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Concordia Healthcare Corp. during the fourth quarter valued at approximately $2,419,000.
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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