Zacks Investment Research Upgrades Concordia International Corp. (NASDAQ:CXRX) to Hold
Zacks Investment Research upgraded shares of Concordia International Corp. (NASDAQ:CXRX) (TSE:CXR) from a sell rating to a hold rating in a research note issued to investors on Wednesday, July 12th.
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 research analysts have also recently issued research reports about the company. ValuEngine cut Concordia International Corp. from a buy rating to a hold rating in a research report on Friday, June 2nd. Canaccord Genuity reaffirmed a sell rating on shares of Concordia International Corp. in a research report on Tuesday, March 14th. Seven equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company presently has a consensus rating of Sell and a consensus price target of $9.80.
Concordia International Corp. (NASDAQ:CXRX) opened at 1.40 on Wednesday. The firm’s market cap is $71.52 million. Concordia International Corp. has a 52 week low of $1.09 and a 52 week high of $17.71. The stock has a 50 day moving average of $1.44 and a 200 day moving average of $1.69.
Concordia International Corp. (NASDAQ:CXRX) (TSE:CXR) last posted its quarterly earnings data on Wednesday, May 10th. The company reported ($0.37) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.89. Concordia International Corp. had a negative return on equity of 83.96% and a negative net margin of 185.54%. The business had revenue of $160.56 million during the quarter, compared to analysts’ expectations of $168.09 million. During the same period in the prior year, the firm posted ($0.09) EPS. The firm’s revenue for the quarter was down 29.7% on a year-over-year basis. Analysts anticipate that Concordia International Corp. will post $1.26 EPS for the current year.
A number of institutional investors have recently made changes to their positions in CXRX. Toronto Dominion Bank raised its position in shares of Concordia International Corp. by 1.0% in the first quarter. Toronto Dominion Bank now owns 81,608 shares of the company’s stock valued at $132,000 after buying an additional 782 shares during the period. Allianz Asset Management AG raised its position in shares of Concordia International Corp. by 78.5% in the fourth quarter. Allianz Asset Management AG now owns 125,086 shares of the company’s stock valued at $265,000 after buying an additional 54,998 shares during the period. FMR LLC purchased a new position in shares of Concordia International Corp. during the first quarter valued at approximately $108,000. Canada Pension Plan Investment Board purchased a new position in shares of Concordia International Corp. during the second quarter valued at approximately $124,000. Finally, Norges Bank purchased a new position in shares of Concordia International Corp. during the fourth quarter valued at approximately $1,721,000. Institutional investors and hedge funds own 13.52% of the company’s stock.
Concordia International Corp. Company Profile
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