Concordia Healthcare Corp. (CXRX) Receives $36.33 Consensus Price Target from Brokerages
Shares of Concordia Healthcare Corp. (NASDAQ:CXRX) (TSE:CXR) have been given an average recommendation of “Hold” by the fourteen ratings firms that are presently covering the stock. Four research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $36.33.
Several equities research analysts have recently weighed in on the company. TD Securities cut Concordia Healthcare Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th. RBC Capital Markets reissued an “outperform” rating and set a $33.00 price objective on shares of Concordia Healthcare Corp. in a report on Monday, August 15th. CIBC lowered 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. GMP Securities lowered Concordia Healthcare Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 15th. Finally, Canaccord Genuity set a $20.00 price objective on Concordia Healthcare Corp. and gave the stock a “buy” rating in a report on Monday, August 15th.
Concordia Healthcare Corp. (NASDAQ:CXRX) opened at 3.29 on Wednesday. The company’s market cap is $167.85 million. The company has a 50-day moving average of $3.65 and a 200-day moving average of $14.29. Concordia Healthcare Corp. has a one year low of $1.69 and a one year high of $44.00.
Concordia Healthcare Corp. (NASDAQ:CXRX) last announced its quarterly earnings results on Monday, November 7th. The company reported $0.69 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by $0.36. Concordia Healthcare Corp. had a negative net margin of 81.40% and a positive return on equity of 22.81%. The company had revenue of $185.50 million for the quarter, compared to the consensus estimate of $206 million. During the same quarter in the prior year, the company earned $1.46 earnings per share. The company’s quarterly revenue was up 99.5% on a year-over-year basis. Equities research analysts expect that Concordia Healthcare Corp. will post $4.19 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the stock. Laurion Capital Management LP bought a new stake in Concordia Healthcare Corp. during the second quarter worth $571,000. 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 worth $184,000 after buying an additional 1,401 shares during the period. ProShare Advisors LLC raised its stake in Concordia Healthcare Corp. by 0.6% in the second quarter. ProShare Advisors LLC now owns 37,975 shares of the company’s stock worth $818,000 after buying an additional 224 shares during the period. Vanguard Group Inc. raised its stake in Concordia Healthcare Corp. by 9.1% in the second quarter. Vanguard Group Inc. now owns 715,117 shares of the company’s stock worth $15,404,000 after buying an additional 59,893 shares during the period. Finally, Dimensional Fund Advisors LP bought a new stake in Concordia Healthcare Corp. during the second quarter worth $2,383,000. 27.64% of the stock is owned by hedge funds and other institutional investors.
Concordia Healthcare Corp. Company Profile
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