Concordia Healthcare Corp. (NASDAQ:CXRX)‘s stock had its “outperform” rating restated by analysts at RBC Capital Markets in a research report issued on Wednesday. They presently have a $18.50 target price on the stock. RBC Capital Markets’ price objective indicates a potential upside of 357.92% from the stock’s current price.
A number of other equities research analysts have also issued reports on CXRX. Canaccord Genuity reiterated a “buy” rating on shares of Concordia Healthcare Corp. in a research note on Sunday, June 26th. Zacks Investment Research upgraded Concordia Healthcare Corp. from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Wednesday, July 13th. Goldman Sachs Group Inc. cut their price objective on Concordia Healthcare Corp. from $26.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, August 15th. GMP Securities lowered Concordia Healthcare Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 15th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $73.00 price objective on shares of Concordia Healthcare Corp. in a research report on Tuesday, June 21st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.41.
Concordia Healthcare Corp. (NASDAQ:CXRX) opened at 4.04 on Wednesday. Concordia Healthcare Corp. has a 52-week low of $4.01 and a 52-week high of $44.00. The company’s market cap is $206.11 million. The firm’s 50-day moving average price is $6.11 and its 200-day moving average price is $18.63.
Concordia Healthcare Corp. (NASDAQ:CXRX) last issued its quarterly earnings results on Friday, August 12th. The company reported $1.38 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.38. Concordia Healthcare Corp. had a positive return on equity of 25.18% and a negative net margin of 81.80%. The business earned $231.70 million during the quarter, compared to analyst estimates of $229.76 million. The company’s revenue was up 208.1% compared to the same quarter last year. On average, equities analysts anticipate that Concordia Healthcare Corp. will post $5.15 EPS for the current year.
A number of hedge funds have recently made changes to their positions in CXRX. Legal & General Group Plc boosted its stake in shares of Concordia Healthcare Corp. by 91.2% in the first quarter. Legal & General Group Plc now owns 4,403 shares of the company’s stock valued at $113,000 after buying an additional 2,100 shares in the last quarter. Citigroup Inc. boosted 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 purchased a new stake in Concordia Healthcare Corp. during the second quarter valued at $309,000. HRS Investment Holdings LLC boosted its stake in 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 period. Finally, Geode Capital Management LLC boosted its stake in 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 period. 33.93% of the stock is owned by institutional investors.
About Concordia Healthcare Corp.
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