Valeritas (NASDAQ:VLRX) Lifted to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Valeritas (NASDAQ:VLRX) from a hold rating to a buy rating in a report issued on Saturday morning, Zacks.com reports. Zacks Investment Research currently has $4.25 price target on the stock.

According to Zacks, “Valeritas Holdings Inc. is a commercial-stage medical technology company which focused on developing technologies for Type 2 diabetes. The company’s product pipeline consists of V-Go (R) Disposable Insulin Delivery device, is a simple, wearable, basal-bolus insulin delivery solution for Type 2 diabetes which enables patients to administer a continuous preset basal rate infusion of insulin. Valeritas Holdings Inc. is headquartered in Bridgewater, New Jersey. “

VLRX has been the topic of a number of other research reports. Oppenheimer boosted their target price on shares of Valeritas from $1.25 to $12.00 and gave the stock an outperform rating in a research report on Tuesday, July 9th. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd.

NASDAQ:VLRX opened at $3.05 on Friday. Valeritas has a 12 month low of $2.10 and a 12 month high of $33.80. The company has a market capitalization of $16.56 million, a price-to-earnings ratio of -0.09 and a beta of 1.79. The company has a debt-to-equity ratio of 29.19, a quick ratio of 2.81 and a current ratio of 3.32. The company has a 50 day moving average price of $3.06.

Valeritas (NASDAQ:VLRX) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.15) EPS for the quarter, meeting the Zacks’ 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 company had revenue of $6.40 million for the quarter, compared to analyst estimates of $6.20 million. As a group, research analysts expect that Valeritas will post -11.14 EPS for the current fiscal year.

In related news, major shareholder Armistice Capital Master Fund bought 100,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were acquired at an average price of $0.31 per share, with a total value of $31,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased 350,000 shares of company stock worth $234,640 in the last ninety days. 1.02% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in VLRX. Weiss Multi Strategy Advisers LLC bought a new position in Valeritas during the fourth quarter worth $41,000. Northern Trust Corp increased its holdings in Valeritas by 855.4% in the 4th quarter. Northern Trust Corp now owns 185,469 shares of the company’s stock valued at $60,000 after buying an additional 166,057 shares during the period. Geode Capital Management LLC increased its holdings in Valeritas by 138.0% in the 4th quarter. Geode Capital Management LLC now owns 186,971 shares of the company’s stock valued at $60,000 after buying an additional 108,416 shares during the period. Millennium Management LLC bought a new stake in Valeritas in the 4th quarter valued at $165,000. Finally, CVI Holdings LLC bought a new stake in Valeritas in the 4th quarter valued at $832,000.

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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