Valeant Pharmaceuticals International Inc. (NYSE:VRX) had its price objective cut by investment analysts at Royal Bank Of Canada from $35.00 to $29.00 in a report released on Wednesday. The brokerage currently has a “sector perform” rating on the specialty pharmaceutical company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 72.41% from the stock’s previous close.

VRX has been the subject of a number of other research reports. Rodman & Renshaw reiterated a “buy” rating and issued a $90.00 price target on shares of Valeant Pharmaceuticals International in a research note on Thursday, July 28th. Jefferies Group reiterated a “buy” rating and issued a $40.00 price target on shares of Valeant Pharmaceuticals International in a research note on Wednesday, August 10th. Guggenheim reiterated a “buy” rating and issued a $55.00 price target on shares of Valeant Pharmaceuticals International in a research note on Thursday, August 11th. TD Securities reiterated a “buy” rating and issued a $38.00 price target on shares of Valeant Pharmaceuticals International in a research note on Saturday, August 13th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $28.00 price target on shares of Valeant Pharmaceuticals International in a research note on Monday, August 1st. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $40.18.

Analyst Recommendations for Valeant Pharmaceuticals International (NYSE:VRX)

Shares of Valeant Pharmaceuticals International (NYSE:VRX) opened at 16.82 on Wednesday. Valeant Pharmaceuticals International has a 1-year low of $13.77 and a 1-year high of $119.87. The company has a 50-day moving average of $22.29 and a 200-day moving average of $25.33. The company’s market cap is $5.85 billion.

Valeant Pharmaceuticals International (NYSE:VRX) last announced its earnings results on Tuesday, November 8th. The specialty pharmaceutical company reported $1.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.78 by $0.23. Valeant Pharmaceuticals International had a positive return on equity of 41.02% and a negative net margin of 22.17%. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the company posted $2.74 EPS. The business’s revenue for the quarter was down 11.0% compared to the same quarter last year. Equities analysts forecast that Valeant Pharmaceuticals International will post $6.45 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in VRX. BlackRock Group LTD bought a new stake in Valeant Pharmaceuticals International during the first quarter valued at $3,340,000. AXA raised its stake 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 in the last quarter. HBK Investments L P bought a new stake in Valeant Pharmaceuticals International during the first quarter valued at $3,260,000. Allen Investment Management LLC raised its stake in Valeant Pharmaceuticals International by 4.1% in the first quarter. Allen Investment Management LLC now owns 12,411 shares of the specialty pharmaceutical company’s stock valued at $326,000 after buying an additional 493 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Valeant Pharmaceuticals International by 2.8% in the first quarter. Legal & General Group Plc now owns 1,209,137 shares of the specialty pharmaceutical company’s stock valued at $31,830,000 after buying an additional 33,247 shares in the last quarter. Institutional investors own 64.39% of the company’s stock.

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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