Valeant Pharmaceuticals International Inc. (NYSE:VRX) shares saw unusually-high trading volume on Thursday . Approximately 32,296,889 shares traded hands during trading, an increase of 26% from the previous session’s volume of 25,730,472 shares.The stock last traded at $23.09 and had previously closed at $23.06.

Several research firms have weighed in on VRX. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Valeant Pharmaceuticals International in a research note on Tuesday, April 5th. Citigroup Inc. reaffirmed a “buy” rating on shares of Valeant Pharmaceuticals International in a research note on Wednesday, March 16th. Rodman & Renshaw lowered their target price on Valeant Pharmaceuticals International from $105.00 to $102.00 and set a “buy” rating on the stock in a research note on Tuesday, May 3rd. BMO Capital Markets reaffirmed a “market perform” rating and set a $44.00 target price (down previously from $66.00) on shares of Valeant Pharmaceuticals International in a research note on Thursday, May 5th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $33.00 target price (down previously from $58.00) on shares of Valeant Pharmaceuticals International in a research note on Friday, June 3rd. Seven equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Valeant Pharmaceuticals International currently has a consensus rating of “Hold” and a consensus price target of $74.71.

The stock’s market cap is $8.06 billion. The stock’s 50-day moving average is $24.19 and its 200-day moving average is $53.05.

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

In other news, CEO Joseph C. Papa purchased 202,000 shares of Valeant Pharmaceuticals International stock in a transaction that occurred on Friday, June 10th. The stock was acquired at an average cost of $24.48 per share, for a total transaction of $4,944,960.00. Following the purchase, the chief executive officer now directly owns 2,442,199 shares of the company’s stock, valued at approximately $59,785,031.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

A number of hedge funds have recently added to or reduced their stakes in VRX. 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 valued at $451,403,000 after buying an additional 330,079 shares during the period. 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 valued at $439,596,000 after buying an additional 1,607,834 shares during the period. 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 valued at $274,083,000 after buying an additional 745,631 shares during the period. I.G. Investment Management LTD. increased its stake in 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 period. Finally, OppenheimerFunds Inc. increased its stake in 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 period.

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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