Valeant Pharmaceuticals International Inc. (NYSE:VRX) traded down 1.8% on Friday after Deutsche Bank AG lowered their price target on the stock from $30.00 to $29.00. Deutsche Bank AG currently has a hold rating on the stock. Valeant Pharmaceuticals International traded as low as $22.12 and last traded at $22.35, with a volume of 7,898,883 shares traded. The stock had previously closed at $22.77.

Several other equities research analysts have also commented on VRX. TD Securities restated a “hold” rating and issued a $38.00 price target on shares of Valeant Pharmaceuticals International in a research note on Sunday, July 17th. Rodman & Renshaw restated a “buy” rating and issued a $90.00 price target on shares of Valeant Pharmaceuticals International in a research note on Sunday, July 17th. Mizuho restated an “underperform” rating on shares of Valeant Pharmaceuticals International in a research note on Sunday, July 17th. Wells Fargo & Co. restated a “sell” rating and issued a $19.50 price target on shares of Valeant Pharmaceuticals International in a research note on Sunday, July 17th. Finally, Piper Jaffray Cos. set a $22.00 price objective on shares of Valeant Pharmaceuticals International and gave the company a “sell” rating in a report on Friday, August 19th. Six equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $56.45.

In related news, Director Argeris N. Karabelas purchased 4,000 shares of the firm’s stock in a transaction on Thursday, August 11th. The shares were bought at an average cost of $24.65 per share, for a total transaction of $98,600.00. Following the transaction, the director now directly owns 20,726 shares of the company’s stock, valued at approximately $510,895.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 16.37% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. FMR LLC raised its stake in Valeant Pharmaceuticals International by 185.4% in the second quarter. FMR LLC now owns 15,545,539 shares of the specialty pharmaceutical company’s stock valued at $313,087,000 after buying an additional 10,099,493 shares in the last quarter. Paulson & CO. Inc. raised its stake in shares of Valeant Pharmaceuticals International by 44.6% in the second quarter. Paulson & CO. Inc. now owns 19,072,000 shares of the specialty pharmaceutical company’s stock valued at $384,110,000 after buying an additional 5,883,900 shares during the period. Hexavest Inc. raised its stake in shares of Valeant Pharmaceuticals International by 110.1% in the third quarter. Hexavest Inc. now owns 3,765,875 shares of the specialty pharmaceutical company’s stock valued at $92,429,000 after buying an additional 1,973,087 shares during the period. Okumus Fund Management Ltd. raised its stake in shares of Valeant Pharmaceuticals International by 98.5% in the first quarter. Okumus Fund Management Ltd. now owns 3,722,464 shares of the specialty pharmaceutical company’s stock valued at $97,901,000 after buying an additional 1,846,864 shares during the period. Finally, York Capital Management Global Advisors LLC acquired a new stake in shares of Valeant Pharmaceuticals International during the first quarter valued at $25,944,000. Institutional investors own 63.59% of the company’s stock.

The firm’s 50 day moving average is $26.86 and its 200 day moving average is $26.89. The firm’s market cap is $7.76 billion.

Valeant Pharmaceuticals International (NYSE:VRX) last announced its quarterly earnings data on Tuesday, August 9th. The specialty pharmaceutical company reported $1.40 EPS for the quarter, missing the Zacks’ consensus estimate of $1.48 by $0.08. The business earned $2.42 billion during the quarter, compared to the consensus estimate of $2.47 billion. Valeant Pharmaceuticals International had a positive return on equity of 46.59% and a negative net margin of 9.29%. The business’s revenue for the quarter was down 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.14 EPS. Equities research analysts anticipate that Valeant Pharmaceuticals International Inc. will post $6.53 earnings per share for the current year.

About Valeant Pharmaceuticals International

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).

5 Day Chart for NYSE:VRX

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