The stock of Concordia International Corp (NASDAQ:CXRX) reached all time low today, Oct, 31 and still has $3.06 target or 10.00% below today’s $3.40 share price. This indicates more downside for the $183.15 million company. This technical setup was reported by Barchart.com. If the $3.06 PT is reached, the company will be worth $18.32M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 589,368 shares traded hands. Concordia International Corp (NASDAQ:CXRX) has declined 84.43% since March 29, 2016 and is downtrending. It has underperformed by 87.90% the S&P500.
Analysts await Concordia International Corp (NASDAQ:CXRX) to report earnings on November, 10. They expect $1.35 earnings per share, up 3.05% or $0.04 from last year’s $1.31 per share. CXRX’s profit will be $72.51 million for 0.63 P/E if the $1.35 EPS becomes a reality. After $1.21 actual earnings per share reported by Concordia International Corp for the previous quarter, Wall Street now forecasts 11.57% EPS growth.
Concordia International Corp (NASDAQ:CXRX) Ratings Coverage
Out of 9 analysts covering Concordia Healthcare Corp. (NASDAQ:CXRX), 5 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 56% are positive. Concordia Healthcare Corp. has been the topic of 18 analyst reports since August 11, 2015 according to StockzIntelligence Inc. IBC initiated the shares of CXRX in a report on Monday, November 30 with “Sector Perform” rating. The firm earned “Neutral” rating on Monday, June 6 by Goldman Sachs. S&P Research maintained the shares of CXRX in a report on Friday, October 16 with “Buy” rating. The stock has “Buy” rating given by Laurentian on Tuesday, March 29. Scotia Capital maintained Concordia International Corp (NASDAQ:CXRX) on Friday, October 16 with “Sector Outperform” rating. The firm has “Hold” rating given on Monday, August 15 by GMP Securities. Canaccord Genuity maintained the shares of CXRX in a report on Tuesday, August 11 with “Buy” rating. IBC downgraded the stock to “Underperformer” rating in Monday, August 15 report. The firm earned “Speculative Buy” rating on Monday, October 19 by Mackie. The firm earned “Hold” rating on Thursday, August 4 by TD Securities.
According to Zacks Investment Research, “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.”
More notable recent Concordia International Corp (NASDAQ:CXRX) news were published by: Prnewswire.com which released: “Concordia International Corp. Announces CEO Transition Plan” on October 21, 2016, also Prnewswire.com with their article: “Shareholder Class Action Filed Against Concordia International Corp. – CXRX” published on August 17, 2016, Business.Financialpost.com published: “Concordia International Corp takeover unlikely â€“ Goldman” on September 27, 2016. More interesting news about Concordia International Corp (NASDAQ:CXRX) were released by: Prnewswire.com and their article: “Concordia International Corp. Announces FDA Approval for New Photofrin® Laser” published on June 30, 2016 as well as Prnewswire.com‘s news article titled: “Concordia Healthcare Corp. Announces Name Change to Concordia International …” with publication date: June 28, 2016.
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