Valeant Pharmaceuticals International Inc. (NYSE:VRX) had its price target cut by analysts at Royal Bank Of Canada from $36.00 to $35.00 in a research note issued to investors on Wednesday, StockTargetPrices.com reports. The brokerage currently has a “sector perform” rating on the specialty pharmaceutical company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 52.57% from the company’s previous close.
A number of other research firms have also issued reports on VRX. Morgan Stanley reaffirmed an “overweight” rating and issued a $42.00 price target on shares of Valeant Pharmaceuticals International in a research report on Friday, August 26th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $36.00 price target on shares of Valeant Pharmaceuticals International in a research report on Monday, August 29th. Mizuho reaffirmed an “underperform” rating and issued a $11.00 price target on shares of Valeant Pharmaceuticals International in a research report on Thursday, August 18th. Canaccord Genuity reaffirmed a “hold” rating and issued a $33.00 price target (up previously from $31.00) on shares of Valeant Pharmaceuticals International in a research report on Friday, August 19th. Finally, Piper Jaffray Cos. set a $22.00 price target on Valeant Pharmaceuticals International and gave the company a “sell” rating in a research report on Friday, August 19th. Six research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Valeant Pharmaceuticals International currently has a consensus rating of “Hold” and an average target price of $56.43.
Shares of Valeant Pharmaceuticals International (NYSE:VRX) opened at 22.94 on Wednesday. Valeant Pharmaceuticals International has a 12-month low of $18.55 and a 12-month high of $179.83. The firm’s market cap is $7.97 billion. The company’s 50 day moving average price is $27.32 and its 200-day moving average price is $26.95.
Valeant Pharmaceuticals International (NYSE:VRX) last posted its quarterly earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by $0.08. The company earned $2.42 billion during the quarter, compared to analyst estimates of $2.47 billion. Valeant Pharmaceuticals International had a negative net margin of 9.29% and a positive return on equity of 46.59%. Valeant Pharmaceuticals International’s revenue for the quarter was down 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.14 EPS. On average, equities research analysts anticipate that Valeant Pharmaceuticals International will post $6.53 EPS for the current year.
In related news, Director Argeris N. Karabelas purchased 4,000 shares of the company’s stock in a transaction on Thursday, August 11th. The stock was bought at an average price of $24.65 per share, with a total value of $98,600.00. Following the completion of the transaction, the director now owns 20,726 shares of the company’s stock, valued at approximately $510,895.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 16.37% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. HBK Investments L P bought a new position in Valeant Pharmaceuticals International during the first quarter valued at $3,260,000. Bogle Investment Management L P DE bought a new position in Valeant Pharmaceuticals International during the first quarter valued at $11,022,000. Chou Associates Management Inc. bought a new position in Valeant Pharmaceuticals International during the first quarter valued at $25,725,000. AXA increased its position in Valeant Pharmaceuticals International by 19.6% in the first quarter. AXA now owns 40,063 shares of the specialty pharmaceutical company’s stock valued at $1,055,000 after buying an additional 6,568 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in Valeant Pharmaceuticals International during the first quarter valued at $741,000. 63.59% of the stock is owned by institutional investors.
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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