Concordia Healthcare Corp.’s (CXRX) “Outperform” Rating Reaffirmed at RBC Capital Markets

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Concordia Healthcare Corp. (NASDAQ:CXRX)‘s stock had its “outperform” rating reiterated by stock analysts at RBC Capital Markets in a research report issued on Monday. They currently have a $18.00 target price on the stock, down from their prior target price of $32.00. RBC Capital Markets’ target price points to a potential upside of 242.86% from the stock’s current price.
Other equities research analysts also recently issued reports about the stock. Canaccord Genuity reaffirmed a “buy” rating on shares of Concordia Healthcare Corp. in a research report on Sunday, June 26th. GMP Securities downgraded shares of Concordia Healthcare Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 15th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Concordia Healthcare Corp. in a research report on Tuesday, June 7th. TD Securities reaffirmed a “hold” rating and issued a $14.00 price objective (down from $20.00) on shares of Concordia Healthcare Corp. in a research report on Wednesday, August 17th. Finally, Zacks Investment Research downgraded shares of Concordia Healthcare Corp. from a “buy” rating to a “hold” rating in a research report on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $37.79.
Shares of Concordia Healthcare Corp. (NASDAQ:CXRX) traded down 4.81% on Monday, hitting $5.14. 1,088,419 shares of the stock traded hands. The stock’s market cap is $262.23 million. The stock has a 50 day moving average price of $11.61 and a 200-day moving average price of $22.48. Concordia Healthcare Corp. has a 52 week low of $5.01 and a 52 week high of $76.10.

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Concordia Healthcare Corp. (NASDAQ:CXRX) last posted its earnings results on Friday, August 12th. The company reported $1.38 EPS for the quarter, hitting the 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 company earned $231.70 million during the quarter, compared to the consensus estimate of $229.76 million. Concordia Healthcare Corp.’s revenue was up 208.1% on a year-over-year basis. On average, equities research analysts forecast that Concordia Healthcare Corp. will post $5.22 EPS for the current year.
Hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC boosted its stake in shares of 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 last quarter. 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. Legal & General Group Plc raised its stake 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 during the period. Geode Capital Management LLC raised 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 worth $526,000 after buying an additional 2,270 shares during the period. Finally, HRS Investment Holdings LLC raised 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 worth $394,000 after buying an additional 7,700 shares during the period. Institutional investors own 33.93% of the company’s stock.
About Concordia Healthcare Corp.

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