Cipher Pharmaceuticals (TSE:CPH) Share Price Crosses Below 50 Day Moving Average – Here’s Why

Cipher Pharmaceuticals Inc. (TSE:CPH) (NASDAQ:CPHR) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$17.85 and traded as low as C$16.56. Cipher Pharmaceuticals shares last traded at C$16.75, with a volume of 14,637 shares traded.

Analyst Ratings Changes

Separately, Canaccord Genuity Group set a C$17.00 price target on Cipher Pharmaceuticals and gave the stock a “hold” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of C$17.00.

Cipher Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.67 and a current ratio of 1.25. The business has a 50-day moving average price of C$17.85 and a 200 day moving average price of C$15.94. The stock has a market capitalization of C$425.30 million, a P/E ratio of 14.08 and a beta of 0.89.

Cipher Pharmaceuticals (TSE:CPH) (NASDAQ:CPHR) last issued its quarterly earnings results on Thursday, May 7th. The company reported C$0.33 EPS for the quarter. Cipher Pharmaceuticals had a return on equity of 25.69% and a net margin of 60.82%.The firm had revenue of C$17.39 million for the quarter. As a group, sell-side analysts forecast that Cipher Pharmaceuticals Inc. will post 1.2907348 EPS for the current fiscal year.

About Cipher Pharmaceuticals

Cipher Pharmaceuticals (TSX: CPH) (OTCQX: CPHRF) is a specialty pharmaceutical company with a robust and diversified portfolio of commercial and early to late-stage products, mainly in dermatology. Cipher acquires products that fulfill unmet medical needs, manages the required clinical development and regulatory approval process, and currently markets those products in Canada, the U.S., and South America.