TD Securities Downgrades Cipher Pharmaceuticals (CPH) to Hold

Cipher Pharmaceuticals (TSE:CPH) (NASDAQ:CPHR) was downgraded by TD Securities from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday. They presently have a C$2.00 target price on the stock, down from their previous target price of C$4.25. TD Securities’ price objective indicates a potential upside of 34.23% from the company’s previous close.

Shares of Cipher Pharmaceuticals stock traded down C$0.19 during trading on Wednesday, hitting C$1.49. 173,397 shares of the stock traded hands, compared to its average volume of 35,264. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 75.95. The firm has a market capitalization of $45.07 million and a PE ratio of 7.31. Cipher Pharmaceuticals has a 52 week low of C$1.46 and a 52 week high of C$5.28.

In other news, insider John Mull acquired 50,000 shares of Cipher Pharmaceuticals stock in a transaction dated Friday, December 21st. The shares were purchased at an average cost of C$1.70 per share, for a total transaction of C$85,000.00. Following the transaction, the insider now owns 485,115 shares of the company’s stock, valued at C$824,695.50.

About Cipher Pharmaceuticals

Cipher Pharmaceuticals Inc operates as a specialty pharmaceutical company in Canada. The company offers EPURIS (CIP-ISOTRETINOIN), a formulation of the active ingredient isotretinoin for use in the treatment of severe acne; LIPOFEN (CIP-FENOFIBRATE), a formulation of the active ingredient fenofibrate used for the treatment of hyperlipidemia, a cholesterol disorder; CONZIP/DURELA (CIP-TRAMADOL ER), a formulation of the active ingredient tramadol for the management of moderate to moderately severe pain; and Absorica, an oral retinoid indicated for the treatment of severe recalcitrant nodular acne in patients.

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