Cipher Pharmaceuticals Inc (TSE:CPH) (NASDAQ:CPHR)’s share price dropped 7.9% on Tuesday . The stock traded as low as C$4.44 and last traded at C$4.80. Approximately 17,472 shares changed hands during mid-day trading, an increase of 11% from the average daily volume of 15,698 shares. The stock had previously closed at C$4.45.

Separately, TD Securities reduced their price target on Cipher Pharmaceuticals from C$6.50 to C$5.00 and set a “hold” rating for the company in a report on Tuesday, November 7th.

In other Cipher Pharmaceuticals news, Director Harold Morton Wolkin purchased 35,000 shares of Cipher Pharmaceuticals stock in a transaction that occurred on Friday, November 10th. The stock was acquired at an average price of C$4.69 per share, for a total transaction of C$164,150.00.

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Cipher Pharmaceuticals Company Profile

Cipher Pharmaceuticals Inc, together with its subsidiaries, operates as a specialty pharmaceutical dermatology company in South America, Canada, and the United States. It offers CIP-ISOTRETINOIN, a formulation of the active ingredient isotretinoin for use in the treatment of severe acne; CIP-FENOFIBRATE, a formulation of the active ingredient fenofibrate used for the treatment of hyperlipidemia, a cholesterol disorder; and CIP-TRAMADOL ER, a formulation of the active ingredient tramadol for the management of moderate to moderately severe pain.

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