Published On: Thu, Sep 15th, 2016

Concordia Healthcare Corp. (CXRX) Short Interest Update

Concordia Healthcare Corp. (NASDAQ:CXRX) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 10,767,065 shares, a drop of 14.5% from the August 15th total of 12,590,739 shares. Based on an average trading volume of 1,134,231 shares, the short-interest ratio is presently 9.5 days. Currently, 26.3% of the shares of the company are short sold.
Several brokerages have issued reports on CXRX. Canaccord Genuity restated a “buy” rating on shares of Concordia Healthcare Corp. in a research report on Sunday, June 26th. 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 Thursday, May 26th. Zacks Investment Research upgraded shares of Concordia Healthcare Corp. from a “sell” rating to a “hold” rating in a research report on Monday, May 30th. Goldman Sachs Group Inc. cut their price objective on shares of 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. Finally, GMP Securities downgraded shares of Concordia Healthcare Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $40.10.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CXRX. ProShare Advisors LLC increased its position 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 in the last quarter. Citigroup Inc. increased its position 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 in the last quarter. Legal & General Group Plc increased its position in Concordia Healthcare Corp. by 91.2% in the first quarter. Legal & General Group Plc now owns 4,403 shares of the company’s stock worth $113,000 after buying an additional 2,100 shares in the last quarter. Geode Capital Management LLC increased its position 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 worth $526,000 after buying an additional 2,270 shares in the last quarter. Finally, HRS Investment Holdings LLC increased its position 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 worth $394,000 after buying an additional 7,700 shares in the last quarter. 33.93% of the stock is owned by hedge funds and other institutional investors.

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Concordia Healthcare Corp. (NASDAQ:CXRX) opened at 6.93 on Thursday. Concordia Healthcare Corp. has a 52 week low of $6.25 and a 52 week high of $76.10. The company’s market capitalization is $353.55 million. The company has a 50-day moving average of $11.28 and a 200-day moving average of $22.37.
Concordia Healthcare Corp. (NASDAQ:CXRX) last released its earnings results on Friday, August 12th. The company reported $1.38 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.38. Concordia Healthcare Corp. had a negative net margin of 81.80% and a positive return on equity of 25.18%. The firm earned $231.70 million during the quarter, compared to the consensus estimate of $229.76 million. Concordia Healthcare Corp.’s quarterly revenue was up 208.1% compared to the same quarter last year. On average, equities research analysts anticipate that Concordia Healthcare Corp. will post $5.22 EPS for the current year.

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