Valeant Pharmaceuticals International Inc. (NYSE:VRX)’s share price rose 12.7% on Wednesday . The company traded as high as $22.49 and last traded at $22.48, with a volume of 25,931,203 shares traded. The stock had previously closed at $19.95.

VRX has been the topic of several research reports. Mizuho decreased their price objective on shares of Valeant Pharmaceuticals International from $112.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, March 8th. Barclays PLC downgraded shares of Valeant Pharmaceuticals International from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $135.00 to $34.00 in a report on Monday, March 21st. BMO Capital Markets initiated coverage on shares of Valeant Pharmaceuticals International in a report on Tuesday, June 28th. They issued a “market perform” rating and a $26.00 price objective on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $65.00 price objective on shares of Valeant Pharmaceuticals International in a report on Monday, May 9th. Finally, Canaccord Genuity decreased their price objective on shares of Valeant Pharmaceuticals International from $75.00 to $40.00 and set a “hold” rating on the stock in a report on Tuesday, March 15th. Seven research analysts have rated the stock with a sell rating, fifteen have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Valeant Pharmaceuticals International presently has a consensus rating of “Hold” and an average target price of $75.16.

The stock has a 50-day moving average price of $24.50 and a 200 day moving average price of $53.50. The stock’s market cap is $7.91 billion.

Valeant Pharmaceuticals International (NYSE:VRX) last released its earnings results on Tuesday, June 7th. The specialty pharmaceutical company reported $1.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.37 by $0.10. The company earned $2.37 billion during the quarter, compared to the consensus estimate of $2.34 billion. Valeant Pharmaceuticals International’s revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $2.36 EPS. On average, equities analysts predict that Valeant Pharmaceuticals International Inc. will post $6.62 earnings per share for the current year.

In other news, CEO Joseph C. Papa bought 202,000 shares of the company’s stock in a transaction that occurred on Friday, June 10th. The stock was bought at an average price of $24.48 per share, for a total transaction of $4,944,960.00. Following the transaction, the chief executive officer now directly owns 2,442,199 shares of the company’s stock, valued at approximately $59,785,031.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Valeant Pharmaceuticals International by 8.0% in the fourth quarter. Vanguard Group Inc. now owns 4,440,755 shares of the specialty pharmaceutical company’s stock worth $451,403,000 after buying an additional 330,079 shares during the last quarter. Iridian Asset Management LLC CT increased its stake in Valeant Pharmaceuticals International by 59.2% in the fourth quarter. Iridian Asset Management LLC CT now owns 4,324,602 shares of the specialty pharmaceutical company’s stock worth $439,596,000 after buying an additional 1,607,834 shares during the last quarter. SQ Advisors LLC increased its stake in Valeant Pharmaceuticals International by 38.2% in the fourth quarter. SQ Advisors LLC now owns 2,698,614 shares of the specialty pharmaceutical company’s stock worth $274,083,000 after buying an additional 745,631 shares during the last quarter. I.G. Investment Management LTD. increased its stake in shares of Valeant Pharmaceuticals International by 31.0% in the fourth quarter. I.G. Investment Management LTD. now owns 1,328,610 shares of the specialty pharmaceutical company’s stock valued at $135,033,000 after buying an additional 314,616 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its stake in shares of Valeant Pharmaceuticals International by 14.1% in the fourth quarter. OppenheimerFunds Inc. now owns 611,772 shares of the specialty pharmaceutical company’s stock valued at $62,186,000 after buying an additional 75,705 shares during the last quarter.

Valeant Pharmaceuticals International, Inc is a specialty pharmaceutical and medical device company. The Company is engaged in developing, manufacturing, 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), which are marketed directly or indirectly in over 100 countries.

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