Investors Buy High Volume of Put Options on Valeant Pharmaceuticals Intl (VRX)
Valeant Pharmaceuticals Intl (NYSE:VRX) was the target of unusually large options trading activity on Friday. Traders bought 5,396 put options on the company, StockRatingsNetwork.com reports. This is an increase of 106% compared to the typical daily volume of 2,617 put options.
VRX has been the subject of a number of recent research reports. Analysts at Cantor Fitzgerald raised their price target on shares of Valeant Pharmaceuticals Intl to $209.00 in a research note on Monday, June 2nd. Separately, analysts at CIBC initiated coverage on shares of Valeant Pharmaceuticals Intl in a research note on Wednesday, May 21st. They set an “outperform” rating and a $160.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Valeant Pharmaceuticals Intl in a research note on Friday, May 16th. They now have a $153.00 price target on the stock. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $150.90.
Shares of Valeant Pharmaceuticals Intl (NYSE:VRX) traded down 0.95% on Friday, hitting $119.60. 4,139,018 shares of the company’s stock traded hands. Valeant Pharmaceuticals Intl has a 52 week low of $81.94 and a 52 week high of $153.10. The stock has a 50-day moving average of $130.4 and a 200-day moving average of $128.9. The company’s market cap is $40.098 billion.
Valeant Pharmaceuticals Intl (NYSE:VRX) last posted its quarterly earnings results on Thursday, May 8th. The company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.04. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The company’s revenue for the quarter was up 76.6% on a year-over-year basis. On average, analysts predict that Valeant Pharmaceuticals Intl will post $8.74 earnings per share for the current fiscal year.
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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