Valeant Pharmaceuticals International Inc. (NYSE:VRX) saw strong trading volume on Wednesday . 39,910,200 shares changed hands during trading, an increase of 34% from the previous session’s volume of 29,801,523 shares.The stock last traded at $22.93 and had previously closed at $23.22.

Several research firms have recently weighed in on VRX. Guggenheim reissued a “buy” rating and issued a $55.00 target price (down previously from $145.00) on shares of Valeant Pharmaceuticals International in a research report on Saturday, March 19th. Rodman & Renshaw reissued a “buy” rating on shares of Valeant Pharmaceuticals International in a research report on Sunday, April 3rd. Wells Fargo & Co. reissued a “sell” rating on shares of Valeant Pharmaceuticals International in a research report on Saturday, April 9th. Mizuho reissued a “sell” rating on shares of Valeant Pharmaceuticals International in a research report on Tuesday, May 31st. Finally, Susquehanna reissued a “hold” rating and issued a $105.00 target price on shares of Valeant Pharmaceuticals International in a research report on Sunday, May 29th. Seven equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $66.43.

The stock’s market capitalization is $7.42 billion. The stock has a 50 day moving average of $23.75 and a 200-day moving average of $50.43.

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

In related news, CEO Joseph C. Papa bought 202,000 shares of the company’s stock in a transaction on Friday, June 10th. The shares were purchased at an average cost of $24.48 per share, for a total transaction of $4,944,960.00. Following the acquisition, the chief executive officer now owns 2,442,199 shares of the company’s stock, valued at approximately $59,785,031.52. The purchase was disclosed in a filing with the SEC, which is available at this link.

Other hedge funds recently made changes to their positions in the company. Oppenheimer & Co. Inc. increased its stake in shares of Valeant Pharmaceuticals International by 51.2% in the fourth quarter. Oppenheimer & Co. Inc. now owns 10,455 shares of the specialty pharmaceutical company’s stock valued at $1,062,000 after buying an additional 3,541 shares during the period. Deere & Co. increased its stake in shares of Valeant Pharmaceuticals International by 121.1% in the fourth quarter. Deere & Co. now owns 15,011 shares of the specialty pharmaceutical company’s stock valued at $1,526,000 after buying an additional 8,222 shares during the period. Napier Park Global Capital US LP bought a new stake in shares of Valeant Pharmaceuticals International during the fourth quarter valued at approximately $1,740,000. State of New Jersey Common Pension Fund D bought a new stake in shares of Valeant Pharmaceuticals International during the fourth quarter valued at approximately $2,033,000. Finally, Suntrust Banks Inc. increased its stake in shares of Valeant Pharmaceuticals International by 237.8% in the fourth quarter. Suntrust Banks Inc. now owns 30,718 shares of the specialty pharmaceutical company’s stock valued at $3,122,000 after buying an additional 21,625 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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