Todays Report: The Concordia Healthcare Corp. (CXRX) Receives Outperform Rating from RBC Capital Markets

The Concordia Healthcare Corp. (CXRX) Receives Outperform Rating from RBC Capital Markets

RBC Capital Markets reaffirmed their outperform rating on shares of Concordia Healthcare Corp. (NASDAQ:CXRX) in a research note issued to investors on Wednesday. RBC Capital Markets currently has a $18.50 target price on the stock.

A number of other analysts have also recently commented on the company. Canaccord Genuity reaffirmed a buy rating and set a $10.00 price target on shares of Concordia Healthcare Corp. in a research report on Wednesday, October 5th. Goldman Sachs Group Inc. reissued a neutral rating on shares of Concordia Healthcare Corp. in a report on Tuesday, September 27th. TD Securities reissued a hold rating and issued a $14.00 price objective (down previously from $20.00) on shares of Concordia Healthcare Corp. in a report on Wednesday, August 17th. Zacks Investment Research cut Concordia Healthcare Corp. from a hold rating to a strong sell rating in a report on Wednesday, August 17th. Finally, CIBC cut Concordia Healthcare Corp. from a sector perform rating to an underperform rating and set a $7.80 price objective for the company. in a report on Monday, August 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $32.41.

Concordia Healthcare Corp. (NASDAQ:CXRX) traded down 4.18% during mid-day trading on Wednesday, hitting $4.13. The company had a trading volume of 194,635 shares. Concordia Healthcare Corp. has a 12 month low of $4.11 and a 12 month high of $44.00. The firm’s market capitalization is $210.70 million. The company has a 50-day moving average price of $6.25 and a 200 day moving average price of $18.74.

Concordia Healthcare Corp. (NASDAQ:CXRX) last issued its quarterly earnings results on Friday, August 12th. The company reported $1.38 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.38. Concordia Healthcare Corp. had a positive return on equity of 25.18% and a negative net margin of 81.80%. The company earned $231.70 million during the quarter, compared to analysts’ expectations of $229.76 million. The business’s quarterly revenue was up 208.1% on a year-over-year basis. Equities analysts forecast that Concordia Healthcare Corp. will post $5.15 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of CXRX. Dimensional Fund Advisors LP purchased a new stake in Concordia Healthcare Corp. during the second quarter valued at approximately $2,383,000. UBS Asset Management Americas Inc. raised its stake in Concordia Healthcare Corp. by 64.3% in the second quarter. UBS Asset Management Americas Inc. now owns 27,859 shares of the company’s stock valued at $597,000 after buying an additional 10,900 shares during the period. PNC Financial Services Group Inc. purchased a new stake in Concordia Healthcare Corp. during the second quarter valued at approximately $1,855,000. Emerald Acquisition Ltd. purchased a new stake in Concordia Healthcare Corp. during the second quarter valued at approximately $1,056,000. Finally, HealthInvest Partners AB purchased a new stake in Concordia Healthcare Corp. during the second quarter valued at approximately $11,696,000. Institutional investors own 33.93% of the company’s stock.

Concordia Healthcare Corp. Company Profile

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