Cipher Pharmaceuticals (TSE:CPH) Stock Passes Below 50-Day Moving Average – What’s Next?

Cipher Pharmaceuticals Inc. (TSE:CPH) (NASDAQ:CPHR)’s stock price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$17.86 and traded as low as C$16.57. Cipher Pharmaceuticals shares last traded at C$16.57, with a volume of 22,976 shares changing hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group set a C$17.00 target price on Cipher Pharmaceuticals and gave the company a “hold” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$17.00.

Cipher Pharmaceuticals Stock Up 0.9%

The stock has a fifty day moving average of C$17.86 and a 200 day moving average of C$15.80. The firm has a market capitalization of C$420.73 million, a P/E ratio of 13.92 and a beta of 0.89. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.25 and a quick ratio of 2.67.

Cipher Pharmaceuticals (TSE:CPH) (NASDAQ:CPHR) last issued its quarterly earnings results on Thursday, May 7th. The company reported C$0.33 EPS for the quarter. The business had revenue of C$17.39 million for the quarter. Cipher Pharmaceuticals had a return on equity of 25.69% and a net margin of 60.82%. On average, research analysts anticipate that Cipher Pharmaceuticals Inc. will post 1.2907348 EPS for the current fiscal year.

Cipher Pharmaceuticals Company Profile

Cipher Pharmaceuticals (TSX: CPH) (OTCQX: CPHRF) is a specialty pharmaceutical company with a robust and diversified portfolio of commercial and early to late-stage products, mainly in dermatology. Cipher acquires products that fulfill unmet medical needs, manages the required clinical development and regulatory approval process, and currently markets those products in Canada, the U.S., and South America.