Zacks Investment Research Lowers Concordia International Corp. (NASDAQ:CXRX) to Sell

Zacks Investment Research downgraded shares of Concordia International Corp. (NASDAQ:CXRX) (TSE:CXR) from a hold rating to a sell rating in a research report report published on Tuesday, July 18th.

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 downgraded shares of Concordia International Corp. from a buy rating to a hold rating in a research report on Friday, June 2nd. Seven equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Concordia International Corp. currently has an average rating of Sell and an average price target of $9.80.

Shares of Concordia International Corp. (NASDAQ CXRX) traded down 1.54% during trading on Tuesday, hitting $1.28. The company’s stock had a trading volume of 295,793 shares. The company has a 50-day moving average price of $1.47 and a 200-day moving average price of $1.66. Concordia International Corp. has a one year low of $1.09 and a one year high of $12.77. The stock’s market cap is $65.39 million.

Concordia International Corp. (NASDAQ:CXRX) (TSE:CXR) last posted its quarterly earnings results on Friday, August 11th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.04. Concordia International Corp. had a negative net margin of 185.54% and a negative return on equity of 83.96%. The company had revenue of $160.80 million during the quarter, compared to the consensus estimate of $160.92 million. During the same period last year, the firm earned $1.38 EPS. The company’s revenue for the quarter was down 30.6% on a year-over-year basis. Equities analysts predict that Concordia International Corp. will post $1.26 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Allianz Asset Management AG increased its position in shares of Concordia International Corp. by 78.5% in the fourth quarter. Allianz Asset Management AG now owns 125,086 shares of the company’s stock valued at $265,000 after buying an additional 54,998 shares in the last quarter. Norges Bank bought a new position in shares of Concordia International Corp. during the fourth quarter valued at about $1,721,000. Toronto Dominion Bank increased its position in shares of Concordia International Corp. by 1.0% in the first quarter. Toronto Dominion Bank now owns 81,608 shares of the company’s stock valued at $132,000 after buying an additional 782 shares in the last quarter. FMR LLC bought a new position in shares of Concordia International Corp. during the first quarter valued at about $108,000. Finally, Virtu KCG Holdings LLC increased its position in shares of Concordia International Corp. by 363.8% in the second quarter. Virtu KCG Holdings LLC now owns 78,635 shares of the company’s stock valued at $123,000 after buying an additional 61,679 shares in the last quarter. Hedge funds and other institutional investors own 13.68% of the company’s stock.

About Concordia International Corp.

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