RBC Capital Markets reissued their outperform rating on shares of Concordia Healthcare Corp. (NASDAQ:CXRX) in a research report released on Monday morning. They currently have a $18.00 target price on the stock, down from their prior target price of $32.00.

A number of other research firms also recently commented on CXRX. Zacks Investment Research raised shares of Concordia Healthcare Corp. from a sell rating to a hold rating in a research report on Monday, May 30th. Royal Bank Of Canada reaffirmed an outperform rating and issued a $73.00 target price on shares of Concordia Healthcare Corp. in a research report on Thursday, May 26th. Goldman Sachs Group Inc. assumed coverage on shares of Concordia Healthcare Corp. in a research report on Monday, June 6th. They issued a neutral rating and a $32.00 target price on the stock. Canaccord Genuity reaffirmed a buy rating on shares of Concordia Healthcare Corp. in a research report on Sunday, June 26th. Finally, TD Securities reaffirmed a buy rating and issued a $37.00 target price (down from $45.00) on shares of Concordia Healthcare Corp. in a research report on Wednesday, June 29th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $37.79.

Shares of Concordia Healthcare Corp. (NASDAQ:CXRX) opened at 5.10 on Monday. The stock’s 50 day moving average is $10.23 and its 200-day moving average is $21.80. Concordia Healthcare Corp. has a one year low of $4.80 and a one year high of $71.36. The stock’s market capitalization is $260.19 million.

Concordia Healthcare Corp. (NASDAQ:CXRX) last announced its quarterly earnings data on Friday, August 12th. The company reported $1.38 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.38. The business had revenue of $231.70 million for the quarter, compared to analyst estimates of $229.76 million. Concordia Healthcare Corp. had a negative net margin of 81.80% and a positive return on equity of 25.18%. Concordia Healthcare Corp.’s revenue was up 208.1% compared to the same quarter last year. On average, equities research analysts predict that Concordia Healthcare Corp. will post $5.22 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Legal & General Group Plc increased 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 during the last quarter. Citigroup Inc. boosted its stake in shares of 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 bought a new stake in shares of Concordia Healthcare Corp. during the second quarter valued at approximately $309,000. HRS Investment Holdings LLC boosted its stake in shares of 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 shares of 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 currently owned by institutional investors and hedge funds.

About Concordia Healthcare Corp.

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