Valeritas Holdings Inc (NASDAQ:VLRX) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 3,324,572 shares, a growth of 58.0% from the October 15th total of 2,104,321 shares. Based on an average daily volume of 402,135 shares, the short-interest ratio is currently 8.3 days. Approximately 19.4% of the company’s stock are short sold.
Separately, Oppenheimer set a $4.00 price target on Valeritas and gave the company a “buy” rating in a research note on Tuesday, August 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Valeritas has an average rating of “Buy” and an average target price of $3.67.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Bainco International Investors purchased a new position in shares of Valeritas in the 2nd quarter worth approximately $228,000. C WorldWide Group Holding A S boosted its stake in shares of Valeritas by 28.0% in the 2nd quarter. C WorldWide Group Holding A S now owns 316,194 shares of the company’s stock worth $424,000 after buying an additional 69,216 shares during the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in shares of Valeritas in the 2nd quarter worth approximately $448,000. Hedge funds and other institutional investors own 7.38% of the company’s stock.
VLRX stock opened at $1.08 on Friday. The stock has a market cap of $29.33 million, a price-to-earnings ratio of -0.13 and a beta of 2.58. The company has a debt-to-equity ratio of 13.66, a current ratio of 4.03 and a quick ratio of 3.42. Valeritas has a 52-week low of $0.78 and a 52-week high of $6.79.
Valeritas (NASDAQ:VLRX) last announced its earnings results on Tuesday, August 7th. The company reported ($0.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.11. Valeritas had a negative return on equity of 1,768.69% and a negative net margin of 205.12%. The firm had revenue of $6.50 million for the quarter, compared to the consensus estimate of $6.30 million. On average, analysts forecast that Valeritas will post -2.76 EPS for the current year.
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Valeritas Company Profile
Valeritas Holdings, Inc, a commercial-stage medical technology company, focuses on the development and commercialization of technologies to treat patients with Type 2 diabetes in the United States and China. It offers V-Go, a wearable insulin delivery device for basal-bolus therapy. The company also develops h-Patch, a controlled delivery technology platform; Mini-Ject technology for needle-free injection systems; and Micro-Trans technology for microneedle design, fabrication, and drug delivery.
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