BUZZ-Concordia Healthcare Corp: Hits more than 5-month low

Tue Mar 29, 2016 1:33pm EDT
 
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** Drug developer's U.S.-listed shares down 10.1 pct at $22.58

** Stock falls as much as 15.5 pct to lowest in more than 5 months

** Denies media report its auditor PricewaterhouseCoopers LLP 'looking closely at 4Q'

** "We categorically deny the claims being made in the report and our independent auditors stand by our results," Chief Executive Mark Thompson says

** Says PricewaterhouseCoopers completed its fiscal 2015 audit on March 23 and provided unqualified audit opinion that was disclosed on SEDAR, EDGAR and company's website

** More than 750,000 shares traded; 1.7x 25-day moving avg

** Laurentian Bank Securities cuts PT to $55 from $60, citing lower 2016 forecast

** Company expects FY 2016 adj. EPS of $6.29-$6.77 vs estimate of $6.82

** Up to Monday's close, stock had fallen 63.3 pct in past 12 months