Concordia International Corp’s Big Gap Up Today Points to Less Stock Risks

 Concordia International Corp's Big Gap Up Today Points to Less Stock Risks

The stock of Concordia International Corp (TSE:CXR) gapped up by $0.01 today and has $7.23 target or 61.00% above today’s $4.49 share price. The 9 months technical chart setup indicates low risk for the $224.56 million company. The gap was reported on Nov, 2 by Barchart.com. If the $7.23 price target is reached, the company will be worth $136.98M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock last traded at $4.49 per share. It is up 85.08% since March 29, 2016 and is downtrending. It has underperformed by 87.61% the S&P500.

Concordia International Corp (TSE:CXR) Ratings Coverage

Out of 4 analysts covering Concordia Healthcare Corp (TSE:CXR), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. Concordia Healthcare Corp has been the topic of 23 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The stock of Concordia International Corp (TSE:CXR) earned “” rating by Goldman Sachs on Friday, July 22. The stock of Concordia International Corp (TSE:CXR) earned “Outperform” rating by RBC Capital Markets on Monday, October 24. RBC Capital Markets maintained the stock with “Outperform” rating in Tuesday, June 7 report. The stock of Concordia International Corp (TSE:CXR) earned “Hold” rating by Mackie on Thursday, December 3. The stock of Concordia International Corp (TSE:CXR) has “Outperform” rating given on Friday, January 8 by RBC Capital Markets. The stock of Concordia International Corp (TSE:CXR) has “Sector Outperform” rating given on Wednesday, September 9 by Scotia Capital. The rating was maintained by RBC Capital Markets on Monday, May 16 with “Outperform”. The stock has “Outperform” rating given by RBC Capital Markets on Tuesday, October 11. The company was maintained on Tuesday, August 11 by RBC Capital Markets. The stock of Concordia International Corp (TSE:CXR) has “Outperform” rating given on Monday, June 20 by RBC Capital Markets.

More notable recent Concordia International Corp (TSE:CXR) news were published by: Prnewswire.com which released: “Concordia International Corp. Announces Second Cross Currency Swap Agreement” on November 01, 2016, also Prnewswire.com with their article: “Concordia International Corp. Announces Communication With CMA” published on October 25, 2016, Prnewswire.com published: “Concordia International Corp. Announces CEO Transition Plan” on October 21, 2016. More interesting news about Concordia International Corp (TSE:CXR) were released by: Prnewswire.com and their article: “Shareholder Class Action Filed Against Concordia International Corp. – CXRX” published on August 17, 2016 as well as Business.Financialpost.com‘s news article titled: “Concordia International Corp takeover unlikely – Goldman” with publication date: September 27, 2016.

Concordia International Corp, formerly Concordia Healthcare Corp, is a Canada pharmaceutical company. The company has a market cap of $224.56 million. The Company, through subsidiaries, owns a portfolio of branded and generic prescription products. It currently has negative earnings.

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