Cipher Pharmaceuticals (TSE:CPH) Shares Pass Above Fifty Day Moving Average – Here’s What Happened

Cipher Pharmaceuticals Inc. (TSE:CPH) (NASDAQ:CPHR)’s share price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$12.48 and traded as high as C$12.89. Cipher Pharmaceuticals shares last traded at C$12.49, with a volume of 43,554 shares changing hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group set a C$12.50 price objective on Cipher Pharmaceuticals and gave the company a “hold” rating in a research note on Monday, April 7th.

Cipher Pharmaceuticals Stock Up 0.2%

The company has a debt-to-equity ratio of 41.22, a quick ratio of 2.67 and a current ratio of 2.00. The company’s 50-day simple moving average is C$12.48 and its two-hundred day simple moving average is C$13.43. The firm has a market cap of C$224.24 million, a PE ratio of 13.79 and a beta of 1.20.

Insider Activity at Cipher Pharmaceuticals

In other news, Director Harold Morton Wolkin sold 3,500 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of C$13.49, for a total value of C$47,215.00. 42.00% of the stock is owned by company insiders.

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.