Canaccord Genuity Analysts Give Valeant Pharmaceuticals International, Inc. (VRX) a $14.00 Price Target
Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX) has been given a $14.00 target price by Canaccord Genuity in a research note issued on Friday. The brokerage currently has a “hold” rating on the specialty pharmaceutical company’s stock. Canaccord Genuity’s target price would suggest a potential downside of 7.47% from the stock’s current price.
Several other research analysts have also commented on VRX. Piper Jaffray Companies reiterated an “outperform” rating and set a $10.00 price target on shares of Valeant Pharmaceuticals International in a report on Friday, April 14th. Mizuho reiterated an “underperform” rating and set a $8.00 price target (down previously from $9.00) on shares of Valeant Pharmaceuticals International in a report on Monday, April 17th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $18.00 price target on shares of Valeant Pharmaceuticals International in a report on Wednesday, April 19th. Deutsche Bank AG reduced their price target on Valeant Pharmaceuticals International from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, April 19th. Finally, J P Morgan Chase & Co reduced their price target on Valeant Pharmaceuticals International from $15.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, April 20th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Valeant Pharmaceuticals International presently has a consensus rating of “Hold” and an average target price of $16.96.
Valeant Pharmaceuticals International (NYSE:VRX) traded down 2.07% on Friday, reaching $15.13. 18,721,769 shares of the company’s stock were exchanged. Valeant Pharmaceuticals International has a one year low of $8.31 and a one year high of $32.74. The firm has a 50 day moving average price of $16.16 and a 200 day moving average price of $13.34. The firm’s market cap is $5.26 billion. Valeant Pharmaceuticals International also was the target of unusually large options trading on Thursday. Traders bought 16,974 put options on the stock. This represents an increase of approximately 100% compared to the typical daily volume of 8,473 put options.
Valeant Pharmaceuticals International (NYSE:VRX) (TSE:VRX) last posted its quarterly earnings results on Tuesday, May 9th. The specialty pharmaceutical company reported $2.80 EPS for the quarter, topping the consensus estimate of $0.87 by $1.93. Valeant Pharmaceuticals International had a positive return on equity of 58.02% and a negative net margin of 14.96%. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the firm earned ($1.08) EPS. The company’s quarterly revenue was down 11.1% compared to the same quarter last year. On average, equities analysts anticipate that Valeant Pharmaceuticals International will post $3.89 earnings per share for the current year.
In other news, Director Schutter Richard U. De bought 20,000 shares of the company’s stock in a transaction on Thursday, May 11th. The stock was bought at an average cost of $13.90 per share, with a total value of $278,000.00. Following the transaction, the director now directly owns 70,572 shares in the company, valued at approximately $980,950.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.87% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Gruss & Co. Inc. purchased a new position in Valeant Pharmaceuticals International during the first quarter valued at $104,000. Financial Architects Inc increased its position in Valeant Pharmaceuticals International by 18.6% in the first quarter. Financial Architects Inc now owns 9,550 shares of the specialty pharmaceutical company’s stock valued at $105,000 after buying an additional 1,500 shares in the last quarter. Harbor Advisors LLC purchased a new position in Valeant Pharmaceuticals International during the first quarter valued at $110,000. WMS Partners LLC purchased a new position in Valeant Pharmaceuticals International during the first quarter valued at $116,000. Finally, Brave Asset Management Inc. purchased a new position in Valeant Pharmaceuticals International during the first quarter valued at $119,000. 50.53% of the stock is owned by institutional investors.
About Valeant Pharmaceuticals International
Valeant Pharmaceuticals International, Inc is a pharmaceutical and medical device company. The Company is engaged in developing and marketing a range of branded, generic and branded generic pharmaceuticals, over-the-counter (OTC) products, and medical devices (contact lenses, intraocular lenses, ophthalmic surgical equipment, and aesthetics devices).
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