Valeant Pharmaceuticals International’s (VRX) Buy Rating Reiterated at Cantor Fitzgerald
Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX)‘s stock had its “buy” rating reissued by research analysts at Cantor Fitzgerald in a note issued to investors on Wednesday. They currently have a $23.00 price target on the specialty pharmaceutical company’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 62.54% from the company’s previous close.
The analysts wrote, “Valeant announced that the FDA confirmed it intends to issue a Voluntary Action Indicated (VAI) inspection classification for its Bausch + Lomb manufacturing facility in Tampa, Florida.””
VRX has been the subject of several other reports. J P Morgan Chase & Co set a $10.00 price objective on Valeant Pharmaceuticals International and gave the company a “hold” rating in a report on Monday, July 17th. BTIG Research reaffirmed a “neutral” rating on shares of Valeant Pharmaceuticals International in a report on Wednesday, May 10th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Valeant Pharmaceuticals International in a report on Wednesday, May 10th. Guggenheim began coverage on Valeant Pharmaceuticals International in a report on Saturday, June 17th. They issued a “buy” rating and a $18.00 price objective for the company. Finally, Wells Fargo & Company reaffirmed an “underperform” rating and issued a $9.00 price objective on shares of Valeant Pharmaceuticals International in a report on Thursday, August 10th. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $17.31.
Shares of Valeant Pharmaceuticals International (NYSE VRX) traded up 1.80% during midday trading on Wednesday, reaching $14.15. The company’s stock had a trading volume of 13,556,665 shares. Valeant Pharmaceuticals International has a 12 month low of $8.31 and a 12 month high of $32.74. The firm’s market cap is $4.93 billion. The company has a 50-day moving average price of $16.35 and a 200-day moving average price of $13.38.
Valeant Pharmaceuticals International (NYSE:VRX) (TSE:VRX) last announced its quarterly earnings data on Tuesday, August 8th. The specialty pharmaceutical company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.08. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Valeant Pharmaceuticals International had a positive return on equity of 59.89% and a negative net margin of 12.40%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.88) EPS. Equities analysts expect that Valeant Pharmaceuticals International will post $3.89 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in VRX. Gruss & Co. Inc. bought a new stake in Valeant Pharmaceuticals International during the first quarter worth approximately $104,000. Financial Architects Inc raised its stake in Valeant Pharmaceuticals International by 18.6% in the first quarter. Financial Architects Inc now owns 9,550 shares of the specialty pharmaceutical company’s stock worth $105,000 after buying an additional 1,500 shares during the period. Harbor Advisors LLC bought a new stake in Valeant Pharmaceuticals International during the first quarter worth approximately $110,000. WMS Partners LLC bought a new stake in Valeant Pharmaceuticals International during the first quarter worth approximately $116,000. Finally, Brave Asset Management Inc. bought a new stake in Valeant Pharmaceuticals International during the first quarter worth approximately $119,000. Hedge funds and other institutional investors own 50.96% 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).
Receive News & Stock Ratings for Valeant Pharmaceuticals International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valeant Pharmaceuticals International Inc. and related stocks with our FREE daily email newsletter.