Concordia Healthcare Corp. (CXRX) Sees Unusually-High Trading Volume
Shares of Concordia Healthcare Corp. (NASDAQ:CXRX) saw an uptick in trading volume on Monday . 4,235,842 shares changed hands during trading, an increase of 264% from the previous session’s volume of 1,164,140 shares.The stock last traded at $9.40 and had previously closed at $10.13.
A number of brokerages have weighed in on CXRX. Canaccord Genuity set a $20.00 target price on Concordia Healthcare Corp. and gave the company a “buy” rating in a research report on Monday. RBC Capital Markets reaffirmed an “outperform” rating and set a $33.00 target price on shares of Concordia Healthcare Corp. in a research report on Monday. Goldman Sachs Group Inc. decreased their target price on Concordia Healthcare Corp. from $26.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday. CIBC lowered Concordia Healthcare Corp. from a “sector perform” rating to an “underperform” rating in a research report on Monday. Finally, GMP Securities lowered Concordia Healthcare Corp. from a “buy” rating to a “hold” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $43.50.
The stock’s 50-day moving average is $18.48 and its 200 day moving average is $25.32. The firm’s market cap is $478.02 million.
Concordia Healthcare Corp. (NASDAQ:CXRX) last posted its quarterly earnings results on Friday, August 12th. The company reported $1.38 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.38. The business earned $231.70 million during the quarter, compared to analyst estimates of $229.76 million. The business’s revenue was up 208.1% compared to the same quarter last year. On average, equities research analysts predict that Concordia Healthcare Corp. will post $5.87 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Concordia Healthcare Corp. stock. Swiss National Bank boosted its position in Concordia Healthcare Corp. (NASDAQ:CXRX) by 26.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 49,810 shares of the company’s stock after buying an additional 10,510 shares during the period. Swiss National Bank owned about 0.10% of Concordia Healthcare Corp. worth $2,031,000 at the end of the most recent reporting period.
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