Concordia International Corp. (CXRX) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the health care sector during morning trading on September 23. At the lunch break, shares of CXRX have clocked gains of 4.46% to $5.15 after closing the day prior at $4.93. In the first two and a half hours of trading, the stock has gone as high as $5.49 and as low as $4.89. Today’s rise has come with about 999,453 shares changing hands, compared to an average 30-day volume of 1.89 million for Concordia International Corp.. The price is currently below the 30-day volume weighted average price of $5.3 for CXRX.
The share appreciation gives the company a market capitalization of $251.51 million based upon 51.02 million shares outstanding. It also means that CXRX has a price-to-book ratio of 0.69:1.
In the past 52 weeks, shares of CXRX have traded as low as $4.45 and as high as $68.0. Technical traders will take note that at $5.15, shares of CXRX are trading below their 200-day MA at $24.54 and below their 50-day MA at $12.13. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is CXRX?
Concordia International Corp is a diverse, international pharmaceutical company focused on legacy pharmaceutical products and orphan drugs. It has three business segments: Concordia North America, Orphan Drug Division and the Concordia International. The company’s 214 employees are led by CEO Mark L. Thompson from the corporate headquarters at 277 Lakeshore Road East in Oakville, ON.
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