Valeant Pharmaceuticals International’s (VRX) Sell Rating Reiterated at Piper Jaffray Companies
Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX)‘s stock had its “sell” rating reissued by equities researchers at Piper Jaffray Companies in a research note issued to investors on Sunday. They presently have a $14.00 target price on the specialty pharmaceutical company’s stock. Piper Jaffray Companies’ price target suggests a potential upside of 0.57% from the company’s previous close.
A number of other brokerages have also issued reports on VRX. Vetr lowered shares of Valeant Pharmaceuticals International from a “strong-buy” rating to a “buy” rating and set a $14.82 price objective for the company. in a report on Monday, May 22nd. Barclays PLC reaffirmed a “hold” rating and set a $20.00 price objective on shares of Valeant Pharmaceuticals International in a report on Tuesday, May 23rd. ValuEngine lowered shares of Valeant Pharmaceuticals International from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Canaccord Genuity set a $14.00 price objective on shares of Valeant Pharmaceuticals International and gave the company a “hold” rating in a report on Thursday, June 8th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $15.00 price objective on shares of Valeant Pharmaceuticals International in a report on Friday, June 9th. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.62.
Valeant Pharmaceuticals International (VRX) opened at 13.92 on Friday. The stock’s market cap is $4.85 billion. Valeant Pharmaceuticals International has a 52 week low of $8.31 and a 52 week high of $27.84. The company’s 50-day moving average is $14.39 and its 200 day moving average is $13.19.
Valeant Pharmaceuticals International (NYSE:VRX) (TSE:VRX) last released its earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.08. Valeant Pharmaceuticals International had a negative net margin of 12.40% and a positive return on equity of 59.89%. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter last year, the business earned ($0.88) EPS. The firm’s revenue was down 7.7% compared to the same quarter last year. On average, analysts expect that Valeant Pharmaceuticals International will post $3.89 earnings per share for the current fiscal year.
In other Valeant Pharmaceuticals International news, Director Schutter Richard U. De bought 10,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was acquired at an average cost of $14.33 per share, for a total transaction of $143,300.00. Following the completion of the transaction, the director now owns 77,479 shares in the company, valued at $1,110,274.07. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 5.87% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Gruss & Co. Inc. bought a new stake in shares of Valeant Pharmaceuticals International during the first quarter worth $104,000. Harbor Advisors LLC bought a new stake in shares of Valeant Pharmaceuticals International during the first quarter worth $110,000. WMS Partners LLC bought a new stake in shares of Valeant Pharmaceuticals International during the first quarter worth $116,000. PNC Financial Services Group Inc. lifted its position in shares of Valeant Pharmaceuticals International by 33.7% during the first quarter. PNC Financial Services Group Inc. now owns 10,965 shares of the specialty pharmaceutical company’s stock worth $121,000 after purchasing an additional 2,763 shares during the last quarter. Finally, Baird Financial Group Inc. bought a new stake in shares of Valeant Pharmaceuticals International during the first quarter worth $127,000. Institutional investors and hedge funds own 50.49% 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).
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