Valeant Pharmaceuticals International Inc. (NYSE:VRX) shares traded down 8.9% on Thursday . The stock traded as low as $24.56 and last traded at $24.90, with a volume of 40,497,385 shares traded. The stock had previously closed at $27.32.

A number of research analysts recently commented on VRX shares. Canaccord Genuity restated a “hold” rating and issued a $40.00 price target on shares of Valeant Pharmaceuticals International in a research report on Wednesday, April 27th. Royal Bank Of Canada restated a “sector perform” rating on shares of Valeant Pharmaceuticals International in a research report on Tuesday, April 26th. Rodman & Renshaw restated a “buy” rating and issued a $105.00 price target on shares of Valeant Pharmaceuticals International in a research report on Tuesday, April 26th. Wells Fargo & Co. restated a “sell” rating on shares of Valeant Pharmaceuticals International in a research report on Monday, April 25th. Finally, Guggenheim restated a “buy” rating and issued a $55.00 price target on shares of Valeant Pharmaceuticals International in a research report on Monday, April 25th. Seven research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $59.59.

The firm’s market cap is $8.40 billion. The firm has a 50-day moving average of $22.53 and a 200-day moving average of $40.88.

Valeant Pharmaceuticals International (NYSE:VRX) last released its quarterly earnings data on Tuesday, August 9th. The specialty pharmaceutical company reported $1.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.48 by $0.08. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the prior year, the business posted $2.14 earnings per share. The company’s revenue was down 11.4% on a year-over-year basis. Equities analysts expect that Valeant Pharmaceuticals International Inc. will post $6.56 EPS for the current year.

In other news, CEO Joseph C. Papa acquired 202,000 shares of the firm’s stock in a transaction dated Friday, June 10th. The stock was acquired at an average cost of $24.48 per share, with a total value of $4,944,960.00. Following the transaction, the chief executive officer now owns 2,442,199 shares in the company, valued at $59,785,031.52. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Several large investors have recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D purchased a new stake in Valeant Pharmaceuticals International during the fourth quarter valued at about $2,033,000. Suntrust Banks Inc. boosted 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 worth $3,122,000 after buying an additional 21,625 shares during the period. Marshall Wace LLP boosted its stake in shares of Valeant Pharmaceuticals International by 76.6% in the fourth quarter. Marshall Wace LLP now owns 65,386 shares of the specialty pharmaceutical company’s stock worth $6,647,000 after buying an additional 28,365 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Valeant Pharmaceuticals International by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 79,777 shares of the specialty pharmaceutical company’s stock worth $8,110,000 after buying an additional 2,500 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Valeant Pharmaceuticals International by 253.0% in the fourth quarter. BNP Paribas Arbitrage SA now owns 284,308 shares of the specialty pharmaceutical company’s stock worth $28,900,000 after buying an additional 203,760 shares during the period.

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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