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

Shares of Cipher Pharmaceuticals Inc. (TSE:CPH) (NASDAQ:CPHR) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$16.67 and traded as high as C$16.84. Cipher Pharmaceuticals shares last traded at C$16.40, with a volume of 9,804 shares.

Wall Street Analysts Forecast Growth

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

Cipher Pharmaceuticals Price Performance

The stock has a 50 day moving average price of C$16.65 and a two-hundred day moving average price of C$16.45. 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 company has a market capitalization of C$412.60 million, a PE ratio of 13.66 and a beta of 1.15.

Cipher Pharmaceuticals (TSE:CPH) (NASDAQ:CPHR) last announced its quarterly earnings results on Thursday, May 7th. The company reported C$0.33 EPS for the quarter. Cipher Pharmaceuticals had a return on equity of 25.69% and a net margin of 60.82%.The business had revenue of C$17.39 million during the quarter. Equities analysts forecast that Cipher Pharmaceuticals Inc. will post 1.2907348 earnings per share 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.