Concordia Healthcare Corp. (CXRX) Trading Up 9.3%
Concordia Healthcare Corp. (NASDAQ:CXRX)’s share price was up 9.3% on Friday . The company traded as high as $16.48 and last traded at $16.41, with a volume of 332,479 shares changing hands. The stock had previously closed at $15.01.
A number of equities analysts have recently weighed in on CXRX shares. Canaccord Genuity reissued a “buy” rating on shares of Concordia Healthcare Corp. in a research report on Sunday, June 26th. TD Securities restated a “buy” rating and issued a $37.00 target price (down from $45.00) on shares of Concordia Healthcare Corp. in a report on Wednesday, June 29th. Zacks Investment Research upgraded shares of Concordia Healthcare Corp. from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Wednesday, July 13th. Goldman Sachs Group Inc. began coverage on shares of Concordia Healthcare Corp. in a report on Monday, June 6th. They issued a “neutral” rating and a $32.00 target price for the company. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $73.00 target price on shares of Concordia Healthcare Corp. in a report on Tuesday, June 21st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Concordia Healthcare Corp. has a consensus rating of “Buy” and a consensus price target of $48.88.
The stock has a 50 day moving average of $19.93 and a 200-day moving average of $25.96. The firm’s market capitalization is $837.17 million.
Concordia Healthcare Corp. (NASDAQ:CXRX) last posted its quarterly earnings data on Friday, May 13th. The company reported $1.35 EPS 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 the consensus estimate of $231 million. The firm’s revenue for the quarter was up 570.1% compared to the same quarter last year. Analysts predict that Concordia Healthcare Corp. will post $5.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Friday, July 15th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Wednesday, July 13th.
A number of hedge funds have recently bought and sold shares of CXRX. 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 worth $2,031,000 after buying an additional 10,510 shares in the last quarter. 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 worth $11,015,000 after buying an additional 53,305 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised 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 worth $34,732,000 after buying an additional 634,880 shares in 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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