Shares of Cipher Pharmaceuticals Inc (TSE:CPH) (NASDAQ:CPHR) fell 3.9% during mid-day trading on Tuesday after TD Securities lowered their price target on the stock from C$6.50 to C$5.00. TD Securities currently has a hold rating on the stock. Cipher Pharmaceuticals traded as low as C$4.69 and last traded at C$4.46. 19,760 shares were traded during trading, an increase of 97% from the average session volume of 10,046 shares. The stock had previously closed at C$4.64.

Separately, Bloom Burton cut shares of Cipher Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, August 14th.

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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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