Valeant Pharmaceuticals International Inc. (NYSE:VRX) was downgraded by investment analysts at Rodman & Renshaw from a “buy” rating to a “neutral” rating in a report issued on Thursday. They currently have a $23.00 price target on the specialty pharmaceutical company’s stock, down from their prior price target of $81.00. Rodman & Renshaw’s target price would indicate a potential upside of 27.78% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Morgan Stanley set a $42.00 target price on shares of Valeant Pharmaceuticals International and gave the stock a “buy” rating in a research note on Tuesday, November 8th. Jefferies Group reaffirmed a “buy” rating and issued a $22.00 target price (down from $40.00) on shares of Valeant Pharmaceuticals International in a research note on Wednesday, November 9th. Canaccord Genuity reaffirmed a “hold” rating and issued a $17.00 target price (down from $33.00) on shares of Valeant Pharmaceuticals International in a research note on Wednesday, November 9th. RBC Capital Markets set a $29.00 target price on shares of Valeant Pharmaceuticals International and gave the stock a “sector perform” rating in a research note on Wednesday, November 9th. Finally, Royal Bank Of Canada dropped their target price on shares of Valeant Pharmaceuticals International from $35.00 to $29.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 9th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Valeant Pharmaceuticals International has a consensus rating of “Hold” and an average target price of $40.18.

Analyst Recommendations for Valeant Pharmaceuticals International (NYSE:VRX)

Valeant Pharmaceuticals International (NYSE:VRX) opened at 18.00 on Thursday. The firm’s market cap is $6.26 billion. The company has a 50-day moving average of $22.04 and a 200-day moving average of $25.21. Valeant Pharmaceuticals International has a 1-year low of $13.77 and a 1-year high of $119.87.

Valeant Pharmaceuticals International (NYSE:VRX) last released its quarterly earnings results on Tuesday, November 8th. The specialty pharmaceutical company reported $1.55 EPS for the quarter, missing the Zacks’ consensus estimate of $1.78 by $0.23. The firm earned $2.48 billion during the quarter, compared to analyst estimates of $2.49 billion. Valeant Pharmaceuticals International had a negative net margin of 22.17% and a positive return on equity of 43.81%. Valeant Pharmaceuticals International’s quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.74 earnings per share. Analysts predict that Valeant Pharmaceuticals International will post $5.63 earnings per share for the current year.

Several institutional investors have recently modified their holdings of VRX. Morgan Stanley raised its position in shares of Valeant Pharmaceuticals International by 241.6% in the third quarter. Morgan Stanley now owns 5,967,745 shares of the specialty pharmaceutical company’s stock valued at $146,508,000 after buying an additional 4,220,573 shares during the last quarter. Acrospire Investment Management LLC raised its position in Valeant Pharmaceuticals International by 300.0% in the third quarter. Acrospire Investment Management LLC now owns 13,200 shares of the specialty pharmaceutical company’s stock worth $324,000 after buying an additional 9,900 shares in the last quarter. Northern Trust Corp raised its position in Valeant Pharmaceuticals International by 24.3% in the third quarter. Northern Trust Corp now owns 282,495 shares of the specialty pharmaceutical company’s stock worth $6,935,000 after buying an additional 55,209 shares in the last quarter. Columbus Circle Investors raised its position in Valeant Pharmaceuticals International by 24.6% in the third quarter. Columbus Circle Investors now owns 155,280 shares of the specialty pharmaceutical company’s stock worth $3,812,000 after buying an additional 30,662 shares in the last quarter. Finally, Princeton Alpha Management LP acquired a new position in Valeant Pharmaceuticals International during the third quarter worth approximately $361,000. 65.50% of the stock is currently owned by institutional investors.

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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