Concordia Healthcare Corp. (CXRX) Sets New 12-Month Low at $17.10
Shares of Concordia Healthcare Corp. (NASDAQ:CXRX) reached 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 trading hands. The stock had previously closed at $17.45.
CXRX has been the topic of a number of research reports. Canaccord Genuity restated a “buy” rating on shares of Concordia Healthcare Corp. in a research report on Thursday, May 12th. TD Securities restated a “buy” rating and set a $37.00 price objective (down from $45.00) on shares of Concordia Healthcare Corp. in a research report 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 objective on the stock in a research report on Wednesday, July 13th. Goldman Sachs Group Inc. initiated coverage on Concordia Healthcare Corp. in a research report on Monday, June 6th. They set a “neutral” rating and a $32.00 price objective on the stock. Finally, 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 Tuesday, June 21st. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $48.88.
The firm’s market cap is $874.41 million. The company has a 50-day moving average price of $21.00 and a 200-day moving average price of $26.50.
Concordia Healthcare Corp. (NASDAQ:CXRX) last released its quarterly earnings data on Friday, May 13th. The company reported $1.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.54 by $0.19. The firm earned $228.50 million during the quarter, compared to the consensus estimate of $231 million. The firm’s revenue was up 570.1% compared to the same quarter last year. On average, equities research analysts expect that Concordia Healthcare Corp. will post $6.09 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 15th were given a $0.075 dividend. The ex-dividend date was Wednesday, July 13th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.75%.
Several hedge funds have added to or reduced their stakes in CXRX. Swiss National Bank boosted 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 worth $2,031,000 after buying an additional 10,510 shares during the last quarter. Morgan Stanley boosted 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, Diamond Hill Capital Management Inc. boosted its stake 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 valued at $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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