Valeant Pharmaceuticals Intl Inc (NYSE:VRX) (TSE:VRX) had its target price reduced by equities research analysts at Deutsche Bank AG from $19.00 to $18.00 in a note issued to investors on Wednesday. The brokerage presently has a “hold” rating on the specialty pharmaceutical company’s stock. Deutsche Bank AG’s price objective suggests a potential upside of 102.70% from the stock’s current price.
VRX has been the subject of a number of other research reports. BTIG Research reissued a “neutral” rating on shares of Valeant Pharmaceuticals Intl in a research note on Wednesday, January 11th. Stifel Nicolaus reissued a “buy” rating and set a $45.00 target price on shares of Valeant Pharmaceuticals Intl in a research note on Thursday, February 9th. Barclays PLC reissued a “hold” rating and set a $34.00 target price on shares of Valeant Pharmaceuticals Intl in a research note on Thursday, February 9th. Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 target price on shares of Valeant Pharmaceuticals Intl in a research note on Tuesday, February 28th. Finally, Wells Fargo & Co reissued an “underperform” rating and set a $11.50 target price on shares of Valeant Pharmaceuticals Intl in a research note on Thursday, February 23rd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $24.68.
Valeant Pharmaceuticals Intl (NYSE:VRX) traded down 1.55% on Wednesday, reaching $8.88. The company’s stock had a trading volume of 12,303,029 shares. The firm’s market cap is $3.09 billion. Valeant Pharmaceuticals Intl has a 12 month low of $8.86 and a 12 month high of $38.50. The firm’s 50 day moving average is $10.86 and its 200-day moving average is $15.50. Valeant Pharmaceuticals Intl also saw unusually large options trading activity on Tuesday. Stock investors bought 1,451 put options on the company. This represents an increase of approximately 123% compared to the average volume of 652 put options.
Valeant Pharmaceuticals Intl (NYSE:VRX) last announced its earnings results on Tuesday, February 28th. The specialty pharmaceutical company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.06. Valeant Pharmaceuticals Intl had a negative net margin of 22.17% and a positive return on equity of 43.81%. The business earned $2.40 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter last year, the firm earned $1.55 earnings per share. Valeant Pharmaceuticals Intl’s quarterly revenue was down 12.9% on a year-over-year basis. On average, equities research analysts anticipate that Valeant Pharmaceuticals Intl will post $3.89 EPS for the current year.
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In related news, Director Pershing Square Capital Manage sold 18,114,432 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $11.00, for a total transaction of $199,258,752.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Valueact Capital Master Fund, purchased 3,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 14th. The shares were purchased at an average price of $10.82 per share, for a total transaction of $32,460,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 3,034,000 shares of company stock valued at $32,825,280. 16.37% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VRX. BB&T Securities LLC boosted its position in Valeant Pharmaceuticals Intl by 16.1% in the third quarter. BB&T Securities LLC now owns 27,595 shares of the specialty pharmaceutical company’s stock valued at $677,000 after buying an additional 3,818 shares during the period. Ray Gerald L & Associates Ltd. purchased a new position in Valeant Pharmaceuticals Intl during the third quarter valued at $246,000. Gramercy Funds Management LLC purchased a new position in Valeant Pharmaceuticals Intl during the third quarter valued at $614,000. Advisor Group Inc. boosted its position in Valeant Pharmaceuticals Intl by 6.3% in the third quarter. Advisor Group Inc. now owns 34,183 shares of the specialty pharmaceutical company’s stock valued at $839,000 after buying an additional 2,039 shares during the period. Finally, US Bancorp DE boosted its position in Valeant Pharmaceuticals Intl by 141.0% in the third quarter. US Bancorp DE now owns 5,745 shares of the specialty pharmaceutical company’s stock valued at $141,000 after buying an additional 3,361 shares during the period. Institutional investors and hedge funds own 64.34% of the company’s stock.
Valeant Pharmaceuticals Intl 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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