Valeant Pharmaceuticals International’s (VRX) “Buy” Rating Reaffirmed at Stifel Nicolaus
Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX)‘s stock had its “buy” rating reiterated by equities research analysts at Stifel Nicolaus in a research note issued on Wednesday, May 17th. They currently have a $35.00 target price on the specialty pharmaceutical company’s stock, down from their prior target price of $45.00. Stifel Nicolaus’ target price points to a potential upside of 176.46% from the company’s current price.
Several other research analysts have also recently weighed in on the stock. Rodman & Renshaw cut shares of Valeant Pharmaceuticals International from a “buy” rating to a “neutral” rating in a report on Tuesday, January 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $18.00 price target (down previously from $21.00) on shares of Valeant Pharmaceuticals International in a report on Thursday, March 23rd. Deutsche Bank AG decreased their price target on shares of Valeant Pharmaceuticals International from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, April 19th. Piper Jaffray Companies reaffirmed an “outperform” rating and issued a $10.00 price target on shares of Valeant Pharmaceuticals International in a report on Friday, April 14th. Finally, Scotiabank upped their price target on shares of Valeant Pharmaceuticals International from $12.00 to $14.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 10th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.11.
Shares of Valeant Pharmaceuticals International (VRX) traded up 4.46% during midday trading on Wednesday, reaching $12.66. The company had a trading volume of 14,674,829 shares. Valeant Pharmaceuticals International has a one year low of $8.31 and a one year high of $32.74. The firm’s market capitalization is $4.40 billion. The company has a 50 day moving average price of $12.26 and a 200-day moving average price of $12.99. Valeant Pharmaceuticals International also was the target of some unusual options trading activity on Friday. Stock investors purchased 35,088 put options on the company. This is an increase of approximately 215% compared to the average volume of 11,124 put options.
Valeant Pharmaceuticals International (NYSE:VRX) (TSE:VRX) last issued its earnings results on Tuesday, May 9th. The specialty pharmaceutical company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $1.93. Valeant Pharmaceuticals International had a negative net margin of 14.96% and a positive return on equity of 58.02%. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter in the previous year, the firm posted ($1.08) EPS. The business’s revenue for the quarter was down 11.1% compared to the same quarter last year. On average, analysts anticipate that Valeant Pharmaceuticals International will post $3.89 EPS for the current fiscal year.
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In other Valeant Pharmaceuticals International news, Director Schutter Richard U. De bought 20,000 shares of the firm’s stock in a transaction on Thursday, May 11th. The stock was acquired at an average price of $13.90 per share, with a total value of $278,000.00. Following the completion of the purchase, the director now owns 70,572 shares of the company’s stock, valued at $980,950.80. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 5.87% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Paulson & CO. Inc. acquired a new position in shares of Valeant Pharmaceuticals International during the fourth quarter worth $281,463,000. ValueAct Holdings L.P. increased its position in shares of Valeant Pharmaceuticals International by 20.0% in the first quarter. ValueAct Holdings L.P. now owns 17,997,224 shares of the specialty pharmaceutical company’s stock worth $198,509,000 after buying an additional 3,002,963 shares in the last quarter. Norges Bank acquired a new position in shares of Valeant Pharmaceuticals International during the fourth quarter worth $39,286,000. Renaissance Technologies LLC increased its position in shares of Valeant Pharmaceuticals International by 573.6% in the fourth quarter. Renaissance Technologies LLC now owns 2,913,089 shares of the specialty pharmaceutical company’s stock worth $42,294,000 after buying an additional 2,480,600 shares in the last quarter. Finally, Saba Capital Management L.P. increased its position in shares of Valeant Pharmaceuticals International by 132.4% in the first quarter. Saba Capital Management L.P. now owns 2,315,900 shares of the specialty pharmaceutical company’s stock worth $25,544,000 after buying an additional 1,319,311 shares in the last quarter. 50.43% of the stock is owned by institutional investors and hedge funds.
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).
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