Valeant Pharmaceuticals Upgraded to “Outperform” by Zacks (VRX)
Valeant Pharmaceuticals (NYSE:VRX) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, Analyst Ratings Network.com reports. The firm currently has a $112.40 target price on the stock. Zacks‘ price target points to a potential upside of 1.89% from the stock’s previous close.
Shares of Valeant Pharmaceuticals (NYSE:VRX) traded down 3.64% during mid-day trading on Tuesday, hitting $106.30. 1,293,184 shares of the company’s stock traded hands. Valeant Pharmaceuticals has a 1-year low of $52.50 and a 1-year high of $113.79. The stock has a 50-day moving average of $102.3 and a 200-day moving average of $88.40. The company’s market cap is $35.454 billion.
Valeant Pharmaceuticals (NYSE:VRX) last released its earnings data on Wednesday, August 7th. The company reported $1.34 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.28 by $0.06. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $820.09 million. During the same quarter last year, the company posted $1.01 earnings per share. Valeant Pharmaceuticals’s revenue was up 33.6% compared to the same quarter last year.
A number of other analysts have also recently weighed in on VRX. Analysts at CRT Capital raised their price target on shares of Valeant Pharmaceuticals from $110.00 to $130.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at BMO Capital Markets set a $123.00 price target on shares of Valeant Pharmaceuticals in a research note to investors on Wednesday, October 2nd. Finally, analysts at Guggenheim initiated coverage on shares of Valeant Pharmaceuticals in a research note to investors on Thursday, September 26th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $112.03.
Valeant Pharmaceuticals International, Inc, formerly Biovail Corporation, is a multinational, specialty pharmaceutical company that develops, manufactures and markets a range of pharmaceutical products.
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