Concordia Healthcare Corp. (NASDAQ:CXRX) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday.

According to Zacks, “Concordia International Corp is a diverse pharmaceutical company which focused on legacy pharmaceutical products and orphan drugs. The company also markets orphan drugs through its Orphan Drug Division, currently consisting of Photofrin(R) for the treatment of certain rare forms of cancer, which is currently undergoing testing for potential new indications. Concordia International Corp, formerly known as Concordia Healthcare Corp, is headquartered in Oakville, Canada. “

Other equities analysts have also recently issued reports about the company. Canaccord Genuity cut Concordia Healthcare Corp. to a “buy” rating and set a $10.00 price objective on the stock. in a research report on Friday, September 16th. TD Securities reaffirmed a “buy” rating and issued a $37.00 price objective (down from $45.00) on shares of Concordia Healthcare Corp. in a research report on Wednesday, June 29th. GMP Securities cut Concordia Healthcare Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 15th. Goldman Sachs Group Inc. lowered their price objective on Concordia Healthcare Corp. from $26.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, August 15th. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $38.00 target price (up from $33.00) on shares of Concordia Healthcare Corp. in a research note on Sunday, September 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $30.11.

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

Concordia Healthcare Corp. (NASDAQ:CXRX) opened at 3.66 on Monday. Concordia Healthcare Corp. has a 12-month low of $3.43 and a 12-month high of $44.00. The stock has a 50 day moving average price of $5.65 and a 200-day moving average price of $18.09. The company’s market capitalization is $186.72 million.

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

Several large investors have recently bought and sold shares of the company. Citigroup Inc. raised its stake in Concordia Healthcare Corp. by 18.5% in the second quarter. Citigroup Inc. now owns 8,976 shares of the company’s stock valued at $184,000 after buying an additional 1,401 shares during the period. Jane Street Group LLC acquired a new position in shares of Concordia Healthcare Corp. during the second quarter valued at approximately $309,000. HRS Investment Holdings LLC increased its position in shares of Concordia Healthcare Corp. by 100.0% in the first quarter. HRS Investment Holdings LLC now owns 15,400 shares of the company’s stock valued at $394,000 after buying an additional 7,700 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Concordia Healthcare Corp. by 12.4% in the first quarter. Geode Capital Management LLC now owns 20,553 shares of the company’s stock valued at $526,000 after buying an additional 2,270 shares during the last quarter. Finally, Laurion Capital Management LP acquired a new position in shares of Concordia Healthcare Corp. during the second quarter valued at approximately $571,000. Hedge funds and other institutional investors own 34.01% of the company’s stock.

About Concordia Healthcare Corp.

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