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

Cipher Pharmaceuticals Inc. (TSE:CPH) (NASDAQ:CPHR) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty 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 trading hands.

Wall Street Analysts Forecast Growth

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

Cipher Pharmaceuticals Stock Performance

The stock 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 50 day simple moving average of C$17.86 and a 200-day simple moving average of C$15.80. 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 announced its quarterly earnings results on Thursday, May 7th. The company reported C$0.33 earnings per share for the quarter. The company had revenue of C$17.39 million during the quarter. Cipher Pharmaceuticals had a return on equity of 25.69% and a net margin of 60.82%. On average, equities analysts forecast that Cipher Pharmaceuticals Inc. will post 1.2907348 EPS for the current year.

About Cipher Pharmaceuticals

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.