Concordia Healthcare Corp. (CXRX) Reaches New 52-Week Low at $18.32
Concordia Healthcare Corp. (NASDAQ:CXRX) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $18.32 and last traded at $18.48, with a volume of 211,821 shares. The stock had previously closed at $19.47.
A number of equities research analysts have issued reports on the company. Canaccord Genuity reiterated a “buy” rating on shares of Concordia Healthcare Corp. in a research note on Sunday, June 26th. CIBC raised their price objective on Concordia Healthcare Corp. from $31.00 to $34.00 and gave the company a “sector performer” rating in a research report on Tuesday, March 29th. Royal Bank Of Canada restated an “outperform” rating and set a $73.00 price objective on shares of Concordia Healthcare Corp. in a research report on Thursday, May 26th. Zacks Investment Research lowered Concordia Healthcare Corp. from a “hold” rating to a “sell” rating in a research report on Monday, April 18th. Finally, Laurentian restated a “buy” rating and set a $55.00 price objective (down previously from $60.00) on shares of Concordia Healthcare Corp. in a research report on Thursday, March 31st. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Concordia Healthcare Corp. presently has a consensus rating of “Buy” and a consensus price target of $48.88.
The stock has a 50 day moving average of $21.58 and a 200 day moving average of $26.73. The stock’s market capitalization is $937.67 million.
Concordia Healthcare Corp. (NASDAQ:CXRX) last issued 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 analyst estimates of $231 million. Concordia Healthcare Corp.’s quarterly revenue was up 570.1% on a year-over-year basis. On average, analysts forecast that Concordia Healthcare Corp. will post $6.15 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Friday, July 15th will be given a $0.075 dividend. The ex-dividend date is Wednesday, July 13th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.63%.
Other hedge funds and institutional investors have recently modified their holdings of the company. Swiss National Bank increased its position in shares of 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 period. ProShare Advisors LLC purchased a new position in shares of Concordia Healthcare Corp. during the fourth quarter worth $1,671,000. GSA Capital Partners LLP purchased a new position in shares of Concordia Healthcare Corp. during the fourth quarter worth $2,419,000. Thornburg Investment Management Inc. increased its position in shares of Concordia Healthcare Corp. by 48.3% in the fourth quarter. Thornburg Investment Management Inc. now owns 116,235 shares of the company’s stock worth $4,746,000 after buying an additional 37,847 shares during the period. Finally, Morgan Stanley increased its position in shares of 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 period.
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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