Cipher Pharmaceuticals (TSE:CPH) Share Price Crosses Below 50 Day Moving Average – Here’s Why

Shares of Cipher Pharmaceuticals Inc. (TSE:CPH) (NASDAQ:CPHR) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$17.85 and traded as low as C$16.56. Cipher Pharmaceuticals shares last traded at C$16.75, with a volume of 14,637 shares trading hands.

Analysts Set New Price Targets

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

Cipher Pharmaceuticals Price Performance

The firm has a market capitalization of C$425.30 million, a P/E ratio of 14.08 and a beta of 0.89. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.67 and a current ratio of 1.25. The firm has a 50-day moving average of C$17.85 and a 200-day moving average of C$15.94.

Cipher Pharmaceuticals (TSE:CPH) (NASDAQ:CPHR) last released its quarterly earnings data on Thursday, May 7th. The company reported C$0.33 earnings per share (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%. As a group, analysts predict that Cipher Pharmaceuticals Inc. will post 1.2907348 EPS for the current 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.