Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX)‘s stock had its “buy” rating reiterated by stock analysts at Cantor Fitzgerald in a research report issued to clients and investors on Wednesday. They currently have a $23.00 target price on the specialty pharmaceutical company’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 62.54% from the stock’s previous close.

The analysts wrote, “Valeant announced that the FDA confirmed it intends to issue a Voluntary Action Indicated (VAI) inspection classification for its Bausch + Lomb manufacturing facility in Tampa, Florida.””

Several other brokerages have also issued reports on VRX. Wells Fargo & Company reaffirmed an “underperform” rating on shares of Valeant Pharmaceuticals International in a research note on Monday, June 12th. J P Morgan Chase & Co reissued a “hold” rating on shares of Valeant Pharmaceuticals International in a research note on Tuesday, May 9th. Zacks Investment Research lowered Valeant Pharmaceuticals International from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 13th. Stifel Nicolaus reissued a “buy” rating and issued a $35.00 target price on shares of Valeant Pharmaceuticals International in a research note on Thursday, August 10th. Finally, BidaskClub raised Valeant Pharmaceuticals International from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $17.31.

Shares of Valeant Pharmaceuticals International (NYSE VRX) traded up 1.80% during mid-day trading on Wednesday, hitting $14.15. The company had a trading volume of 13,556,665 shares. The company’s market capitalization is $4.93 billion. Valeant Pharmaceuticals International has a one year low of $8.31 and a one year high of $32.74. The company’s 50-day moving average is $16.35 and its 200 day moving average is $13.38.

Valeant Pharmaceuticals International (NYSE:VRX) (TSE:VRX) last issued its quarterly earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.08. Valeant Pharmaceuticals International had a positive return on equity of 59.89% and a negative net margin of 12.40%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the previous year, the company posted ($0.88) earnings per share. The company’s revenue was down 7.7% compared to the same quarter last year. On average, equities research analysts forecast that Valeant Pharmaceuticals International will post $3.89 EPS for the current fiscal year.

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Several hedge funds have recently bought and sold shares of VRX. Morgan Stanley increased its stake in shares of Valeant Pharmaceuticals International by 48.2% in the first quarter. Morgan Stanley now owns 2,777,063 shares of the specialty pharmaceutical company’s stock valued at $30,631,000 after buying an additional 903,256 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Valeant Pharmaceuticals International by 61.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 41,414 shares of the specialty pharmaceutical company’s stock valued at $457,000 after buying an additional 15,719 shares in the last quarter. Gabelli Funds LLC acquired a new stake in shares of Valeant Pharmaceuticals International during the first quarter valued at approximately $331,000. Bogle Investment Management L P DE acquired a new stake in shares of Valeant Pharmaceuticals International during the first quarter valued at approximately $11,223,000. Finally, Guggenheim Capital LLC increased its stake in shares of Valeant Pharmaceuticals International by 18.6% in the fourth quarter. Guggenheim Capital LLC now owns 17,540 shares of the specialty pharmaceutical company’s stock valued at $255,000 after buying an additional 2,752 shares in the last quarter. Institutional investors own 50.96% of the company’s stock.

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).

Analyst Recommendations for Valeant Pharmaceuticals International (NYSE:VRX)

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