Valeritas (VLRX) Stock Rating Lowered by ValuEngine

ValuEngine downgraded shares of Valeritas (NASDAQ:VLRX) from a buy rating to a hold rating in a research note issued to investors on Saturday, ValuEngine reports.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Valeritas from a hold rating to a buy rating and set a $0.50 target price on the stock in a research report on Saturday, February 23rd. Oppenheimer set a $2.00 target price on shares of Valeritas and gave the stock a buy rating in a research report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $2.10.

NASDAQ:VLRX opened at $4.09 on Friday. The company has a debt-to-equity ratio of 29.19, a quick ratio of 3.98 and a current ratio of 3.32. Valeritas has a one year low of $3.90 and a one year high of $41.60. The company has a market cap of $434.28 million, a P/E ratio of -2.39 and a beta of 2.00.

Valeritas (NASDAQ:VLRX) last posted its earnings results on Thursday, May 9th. The company reported ($0.15) EPS for the quarter, hitting the consensus estimate of ($0.15). Valeritas had a negative net margin of 183.53% and a negative return on equity of 1,757.04%. The business had revenue of $6.40 million for the quarter, compared to the consensus estimate of $6.20 million. On average, analysts expect that Valeritas will post -0.56 earnings per share for the current fiscal year.

In other news, major shareholder Armistice Capital Master Fund purchased 100,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were purchased at an average price of $0.31 per share, for a total transaction of $31,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.02% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC lifted its holdings in Valeritas by 730.3% during the 3rd quarter. Renaissance Technologies LLC now owns 163,650 shares of the company’s stock worth $218,000 after buying an additional 143,940 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Valeritas by 855.4% during the 4th quarter. Northern Trust Corp now owns 185,469 shares of the company’s stock worth $60,000 after purchasing an additional 166,057 shares during the period. Geode Capital Management LLC raised its position in shares of Valeritas by 138.0% in the 4th quarter. Geode Capital Management LLC now owns 186,971 shares of the company’s stock worth $60,000 after buying an additional 108,416 shares during the period. CVI Holdings LLC purchased a new position in shares of Valeritas in the 4th quarter worth $832,000. Finally, Weiss Multi Strategy Advisers LLC purchased a new position in shares of Valeritas in the 4th quarter worth $41,000. Hedge funds and other institutional investors own 35.46% of the company’s stock.

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. The company offers V-Go, a wearable insulin delivery device for basal-bolus therapy. It also develops V-Go Prefill that is in the design-development stage for eliminating the device-filling process and the need for EZ fill refrigeration for patients with Type 2 diabetes; and V-Go SIM for real-time tracking information of basal and bolus dosing utilization.

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