Price Action To Observe: Concordia International Corp Can’t Burn Your Short Portfolio. Just Reaches All-Time Low

Price Action To Observe: Concordia International Corp Can't Burn Your Short Portfolio. Just Reaches All Time Low

The stock of Concordia International Corp (NASDAQ:CXRX) reached all time low today, Oct, 13 and still has $3.70 target or 11.00% below today’s $4.16 share price. This indicates more downside for the $219.88 million company. This technical setup was reported by Barchart.com. If the $3.70 PT is reached, the company will be worth $24.19M 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 923,237 shares traded hands. Concordia International Corp (NASDAQ:CXRX) has declined 86.79% since March 10, 2016 and is downtrending. It has underperformed by 94.31% the S&P500.

Analysts await Concordia International Corp (NASDAQ:CXRX) to report earnings on November, 10. They expect $1.35 EPS, up 3.05% or $0.04 from last year’s $1.31 per share. CXRX’s profit will be $71.53 million for 0.77 P/E if the $1.35 EPS becomes a reality. After $1.21 actual EPS 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. TD Securities downgraded the shares of CXRX in a report on Thursday, August 4 to “Hold” rating. The stock of Concordia International Corp (NASDAQ:CXRX) earned “Sector Outperform” rating by Scotia Capital on Friday, October 16. IBC initiated the stock with “Sector Perform” rating in Monday, November 30 report. Canaccord Genuity maintained the stock with “Buy” rating in Tuesday, August 11 report. Laurentian maintained Concordia International Corp (NASDAQ:CXRX) rating on Tuesday, March 29. Laurentian has “Buy” rating and $55 price target. The stock has “Neutral” rating given by Goldman Sachs on Monday, June 6. The stock of Concordia International Corp (NASDAQ:CXRX) has “Speculative Buy” rating given on Monday, October 19 by Mackie. As per Monday, August 15, the company rating was maintained by Goldman Sachs. Scotia Capital maintained the shares of CXRX in a report on Tuesday, September 29 with “Sector Outperform” rating. RBC Capital Markets reinitiated the stock with “Outperform” rating in Thursday, October 1 report.

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: Business.Financialpost.com which released: “Concordia International Corp takeover unlikely – Goldman” on September 27, 2016, also Business.Financialpost.com with their article: “Concordia International Corp stock crashes on proposed U.K. legislation over …” published on September 16, 2016, Fool.ca published: “Concordia International Corp.: A Safe Buy?” on October 10, 2016. More interesting news about Concordia International Corp (NASDAQ:CXRX) were released by: Streetinsider.com and their article: “Concordia International (CXRX) Closes Senior Notes Offering; Names Allan …” published on October 13, 2016 as well as Moodys.com‘s news article titled: “Moody’s assigns B1 to Concordia’s new secured notes; outlook to negative” with publication date: October 06, 2016.

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