Valeant Pharmaceuticals International, Inc. (VRX) Earns “Hold” Rating from Canaccord Genuity
Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX)‘s stock had its “hold” rating reissued by equities researchers at Canaccord Genuity in a report released on Tuesday. They currently have a $16.00 price target on the specialty pharmaceutical company’s stock. Canaccord Genuity’s price target points to a potential upside of 11.42% from the company’s previous close.
VRX has been the subject of several other reports. Piper Jaffray Companies set a $14.00 price target on Valeant Pharmaceuticals International and gave the company a “sell” rating in a research report on Wednesday, August 9th. HC Wainwright set a $17.00 target price on shares of Valeant Pharmaceuticals International and gave the company a “hold” rating in a research note on Wednesday, August 9th. Wells Fargo & Company reiterated an “underperform” rating and issued a $8.00 target price on shares of Valeant Pharmaceuticals International in a research note on Saturday. Cantor Fitzgerald reissued a “buy” rating and set a $23.00 price target on shares of Valeant Pharmaceuticals International in a research report on Thursday, September 28th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $18.00 price objective on shares of Valeant Pharmaceuticals International in a research note on Thursday, August 10th. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $17.67.
Valeant Pharmaceuticals International (VRX) traded down 1.78% during midday trading on Tuesday, hitting $14.36. 10,833,531 shares of the company traded hands. The stock’s 50-day moving average is $13.97 and its 200-day moving average is $13.35. Valeant Pharmaceuticals International has a 12-month low of $8.31 and a 12-month high of $24.89. The firm’s market capitalization is $5.00 billion.
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, beating the consensus estimate 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 firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period in the previous year, the business earned ($0.88) EPS. The company’s revenue was down 7.7% compared to the same quarter last year. Analysts anticipate that Valeant Pharmaceuticals International will post $3.89 EPS for the current fiscal year.
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In other Valeant Pharmaceuticals International news, Director Schutter Richard U. De bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was acquired at an average price of $14.33 per share, with a total value of $143,300.00. Following the completion of the purchase, the director now directly owns 77,479 shares of the company’s stock, valued at approximately $1,110,274.07. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.87% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Gruss & Co. Inc. bought a new stake in Valeant Pharmaceuticals International in the first quarter valued at $104,000. Harbor Advisors LLC acquired a new position in shares of Valeant Pharmaceuticals International during the first quarter valued at about $110,000. PNC Financial Services Group Inc. raised its holdings 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 valued at $121,000 after purchasing an additional 2,763 shares during the period. Baird Financial Group Inc. acquired a new position in shares of Valeant Pharmaceuticals International during the first quarter valued at about $127,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised its holdings in shares of Valeant Pharmaceuticals International by 357.7% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 11,900 shares of the specialty pharmaceutical company’s stock valued at $131,000 after purchasing an additional 9,300 shares during the period. 50.48% of the stock is currently owned by institutional investors and hedge funds.
Valeant Pharmaceuticals International Company Profile
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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