Scotiabank reaffirmed their sector perform rating on shares of Concordia Healthcare Corp. (NASDAQ:CXRX) in a research note published on Wednesday. Scotiabank currently has a $4.50 price objective on the stock, down from their previous price objective of $8.00.

CXRX has been the subject of several other research reports. TD Securities cut shares of Concordia Healthcare Corp. from a buy rating to a hold rating in a research note on Thursday, August 4th. RBC Capital Markets restated an outperform rating and set a $18.50 target price on shares of Concordia Healthcare Corp. in a report on Wednesday. GMP Securities downgraded shares of Concordia Healthcare Corp. from a buy rating to a hold rating in a report on Monday, August 15th. Goldman Sachs Group Inc. dropped their target price on shares of Concordia Healthcare Corp. from $26.00 to $13.00 and set a neutral rating for the company in a report on Monday, August 15th. Finally, Canaccord Genuity downgraded shares of Concordia Healthcare Corp. to a buy rating and set a $10.00 target price for the company. in a report on Friday, September 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Concordia Healthcare Corp. currently has a consensus rating of Hold and an average target price of $32.41.

Analyst Recommendations for Concordia Healthcare Corp. (NASDAQ:CXRX)

Shares of Concordia Healthcare Corp. (NASDAQ:CXRX) traded down 4.41% during mid-day trading on Wednesday, reaching $4.12. 385,381 shares of the company’s stock traded hands. The company’s 50-day moving average price is $6.25 and its 200-day moving average price is $18.74. The stock’s market capitalization is $210.19 million. Concordia Healthcare Corp. has a 12-month low of $4.11 and a 12-month high of $44.00.

Concordia Healthcare Corp. (NASDAQ:CXRX) last announced its quarterly earnings data on Friday, August 12th. The company reported $1.38 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.38. Concordia Healthcare Corp. had a negative net margin of 81.80% and a positive return on equity of 25.18%. The firm earned $231.70 million during the quarter, compared to analysts’ expectations of $229.76 million. The business’s revenue for the quarter was up 208.1% compared to the same quarter last year. Analysts anticipate that Concordia Healthcare Corp. will post $5.15 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. HealthInvest Partners AB bought a new stake in Concordia Healthcare Corp. during the second quarter valued at about $11,696,000. Taylor Asset Management Inc. boosted its stake in Concordia Healthcare Corp. by 244.0% in the second quarter. Taylor Asset Management Inc. now owns 923,400 shares of the company’s stock valued at $19,895,000 after buying an additional 655,000 shares in the last quarter. Nomura Holdings Inc. boosted its stake in Concordia Healthcare Corp. by 1,183.4% in the second quarter. Nomura Holdings Inc. now owns 552,150 shares of the company’s stock valued at $11,939,000 after buying an additional 509,127 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in Concordia Healthcare Corp. during the second quarter valued at about $1,855,000. Finally, Royal Bank of Canada boosted its stake in Concordia Healthcare Corp. by 18.2% in the first quarter. Royal Bank of Canada now owns 850,647 shares of the company’s stock valued at $21,776,000 after buying an additional 130,705 shares in the last quarter. 33.93% of the stock is currently owned by institutional investors and hedge funds.

About Concordia Healthcare Corp.

5 Day Chart for NASDAQ:CXRX

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