Cipher Pharmaceuticals Inc (TSE:CPH) (NASDAQ:CPHR) was downgraded by stock analysts at TD Securities from a “buy” rating to a “hold” rating in a research report issued on Monday. They presently have a C$3.50 price objective on the stock, down from their previous price objective of C$7.50. TD Securities’ target price points to a potential downside of 5.91% from the stock’s previous close.

Separately, GMP Securities cut shares of Cipher Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, August 11th.

Cipher Pharmaceuticals (TSE:CPH) opened at 3.72 on Monday. The firm’s market cap is $97.45 million. Cipher Pharmaceuticals has a 12 month low of $3.50 and a 12 month high of $8.18. The firm’s 50 day moving average is $4.66 and its 200-day moving average is $6.08.

About Cipher Pharmaceuticals

Cipher Pharmaceuticals Inc is a specialty pharmaceutical dermatology company. The Company has a portfolio of commercial and late-stage products. It operates in the specialty pharmaceuticals segment. It acquires products and compounds for treatment of various medical needs. Its commercial product portfolio includes ABSORICA; SITAVIG; NUVAIL; BIONECT; CLN8; INOVA; PRO:12 MOUSSE; AL12; LOTION UMECTA; ACLARO; EPURIS; VANIQA; ACTIKERALL; BETEFLAM; LIPOFEN; CONZIP, and DURELA.

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