Concordia International Corp. (CXRX) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Concordia International Corp. (NASDAQ:CXRX) (TSE:CXR) from a strong sell rating to a hold rating in a research report released on Monday, October 16th.

According to Zacks, “Concordia International Corp is a diverse pharmaceutical company which focused on legacy pharmaceutical products and orphan drugs. The company also markets orphan drugs through its Orphan Drug Division, currently consisting of Photofrin(R) for the treatment of certain rare forms of cancer, which is currently undergoing testing for potential new indications. Concordia International Corp, formerly known as Concordia Healthcare Corp, is headquartered in Oakville, Canada. “

Separately, ValuEngine raised shares of Concordia International Corp. from a sell rating to a hold rating in a research note on Tuesday, August 1st. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of Sell and an average target price of $7.00.

Concordia International Corp. (NASDAQ CXRX) opened at 0.593 on Monday. The company has a 50-day moving average of $1.34 and a 200 day moving average of $1.50. The firm’s market cap is $30.33 million. Concordia International Corp. has a 52-week low of $0.56 and a 52-week high of $5.55.

Concordia International Corp. (NASDAQ:CXRX) (TSE:CXR) last announced its earnings results on Friday, August 11th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. The business had revenue of $160.80 million for the quarter, compared to the consensus estimate of $160.92 million. Concordia International Corp. had a negative net margin of 269.97% and a negative return on equity of 83.96%. Concordia International Corp.’s quarterly revenue was down 30.6% on a year-over-year basis. During the same period last year, the firm posted $1.38 earnings per share. On average, equities research analysts anticipate that Concordia International Corp. will post $0.78 EPS for the current year.

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Several hedge funds have recently bought and sold shares of CXRX. Morgan Stanley raised its stake in shares of Concordia International Corp. by 467.8% during the first quarter. Morgan Stanley now owns 1,012,978 shares of the company’s stock worth $1,651,000 after acquiring an additional 834,576 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Concordia International Corp. by 290.2% during the second quarter. JPMorgan Chase & Co. now owns 142,919 shares of the company’s stock worth $223,000 after acquiring an additional 106,290 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Concordia International Corp. during the second quarter worth approximately $124,000. FMR LLC purchased a new position in shares of Concordia International Corp. during the first quarter worth approximately $108,000. Finally, Virtu KCG Holdings LLC raised its stake in shares of Concordia International Corp. by 363.8% during the second quarter. Virtu KCG Holdings LLC now owns 78,635 shares of the company’s stock worth $123,000 after acquiring an additional 61,679 shares in the last quarter. 9.13% of the stock is currently owned by hedge funds and other institutional investors.

Concordia International Corp. Company Profile

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Analyst Recommendations for Concordia International Corp. (NASDAQ:CXRX)

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