Cipher Pharmaceuticals (TSE:CPH) Stock Price Passes Below 50-Day Moving Average - Here's Why

Key Points

• Cipher Pharmaceuticals' stock price fell below its 50-day moving average, trading at C$12.54 while the average is C$12.75.
• Canaccord Genuity set a price objective of C$12.50 and a "hold" rating on Cipher Pharmaceuticals.
• The company has a market cap of C$225.13 million with a price-to-earnings ratio of 13.85.

Cipher Pharmaceuticals Inc. (TSE:CPH - Get Free Report) NASDAQ: CPHR's share price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$12.75 and traded as low as C$12.31. Cipher Pharmaceuticals shares last traded at C$12.54, with a volume of 10,209 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group set a C$12.50 price objective on shares of Cipher Pharmaceuticals and gave the stock a "hold" rating in a report on Monday, April 7th.

Cipher Pharmaceuticals Price Performance

The company has a quick ratio of 2.67, a current ratio of 2.00 and a debt-to-equity ratio of 41.22. The stock has a market cap of C$225.13 million, a price-to-earnings ratio of 13.85 and a beta of 1.20. The company's 50-day moving average is C$12.75 and its 200-day moving average is C$12.79.

About Cipher Pharmaceuticals

Cipher Pharmaceuticals Inc is a specialty pharmaceutical company. Its products include Dermatology Products, Hospital Acute Care Products, and Out-Licensed Products among others. The company's geographical segments include Canada and the United States.

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