Concordia Healthcare Corp. (NASDAQ:CXRX) saw a large decline in short interest in August. As of August 31st, there was short interest totalling 10,767,065 shares, a decline of 14.5% from the August 15th total of 12,590,739 shares. Approximately 26.3% of the shares of the stock are short sold. Based on an average daily volume of 1,134,231 shares, the short-interest ratio is presently 9.5 days.

A number of institutional investors have recently modified their holdings of CXRX. Point72 Asset Management L.P. increased its position in shares of Concordia Healthcare Corp. by 1,738.9% in the second quarter. Point72 Asset Management L.P. now owns 1,197,100 shares of the company’s stock worth $25,786,000 after buying an additional 1,132,000 shares in the last quarter. Taylor Asset Management Inc. increased its position in Concordia Healthcare Corp. by 244.0% in the second quarter. Taylor Asset Management Inc. now owns 923,400 shares of the company’s stock valued at $19,895,000 after buying an additional 655,000 shares during the period. Royal Bank of Canada increased its position in Concordia Healthcare Corp. by 18.2% in the first quarter. Royal Bank of Canada now owns 850,647 shares of the company’s stock valued at $21,776,000 after buying an additional 130,705 shares during the period. Vanguard Group Inc. increased its position in Concordia Healthcare Corp. by 9.1% in the second quarter. Vanguard Group Inc. now owns 715,117 shares of the company’s stock valued at $15,404,000 after buying an additional 59,893 shares during the period. Finally, PCJ Investment Counsel Ltd. increased its position in Concordia Healthcare Corp. by 14.0% in the first quarter. PCJ Investment Counsel Ltd. now owns 676,390 shares of the company’s stock valued at $17,382,000 after buying an additional 83,000 shares during the period. Institutional investors own 33.93% of the company’s stock.

A number of research analysts recently commented on CXRX shares. RBC Capital Markets reissued an “outperform” rating and issued a $33.00 price target on shares of Concordia Healthcare Corp. in a report on Monday, August 15th. TD Securities reissued a “buy” rating and issued a $37.00 price target (down from $45.00) on shares of Concordia Healthcare Corp. in a report on Wednesday, June 29th. CIBC downgraded Concordia Healthcare Corp. from a “sector perform” rating to an “underperform” rating and set a $7.80 price objective on the stock. in a research note on Monday, August 15th. Zacks Investment Research downgraded Concordia Healthcare Corp. from a “buy” rating to a “hold” rating in a research note on Monday, July 18th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $73.00 price objective on shares of Concordia Healthcare Corp. in a research note on Tuesday, June 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $39.33.

Concordia Healthcare Corp. (NASDAQ:CXRX) opened at 5.40 on Friday. The stock’s market cap is $275.49 million. Concordia Healthcare Corp. has a 12-month low of $4.80 and a 12-month high of $76.10. The company’s 50-day moving average price is $11.61 and its 200-day moving average price is $22.48.

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 analysts’ consensus estimates of $1.38. The company had revenue of $231.70 million for the quarter, compared to the consensus estimate of $229.76 million. Concordia Healthcare Corp. had a positive return on equity of 25.18% and a negative net margin of 81.80%. The business’s quarterly revenue was up 208.1% compared to the same quarter last year. On average, equities analysts expect that Concordia Healthcare Corp. will post $5.22 EPS for the current fiscal year.

About Concordia Healthcare Corp.

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