Shares of Valeant Pharmaceuticals International Inc. (NYSE:VRX) rose 18.8% during trading on Tuesday . The company traded as high as $26.99 and last traded at $26.68, with a volume of 63,515,166 shares traded. The stock had previously closed at $22.45.

VRX has been the subject of a number of analyst reports. BMO Capital Markets restated a “buy” rating and issued a $66.00 price target on shares of Valeant Pharmaceuticals International in a research report on Friday, April 22nd. Wells Fargo & Co. restated an “underperform” rating on shares of Valeant Pharmaceuticals International in a research report on Friday, April 15th. Royal Bank Of Canada restated a “sector perform” rating and issued a $65.00 price target on shares of Valeant Pharmaceuticals International in a research report on Monday, May 9th. Guggenheim reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Valeant Pharmaceuticals International in a research note on Monday, April 25th. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $32.00 price objective (down previously from $35.00) on shares of Valeant Pharmaceuticals International in a research note on Tuesday, July 26th. Seven equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, eight have issued 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 $59.59.

The firm has a 50 day moving average price of $22.50 and a 200-day moving average price of $40.88. The firm’s market capitalization is $9.37 billion.

Valeant Pharmaceuticals International (NYSE:VRX) last released its quarterly earnings data on Tuesday, August 9th. The specialty pharmaceutical company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by $0.08. The company earned $2.42 billion during the quarter, compared to analysts’ expectations of $2.47 billion. The business’s revenue was down 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.14 EPS. Equities analysts expect that Valeant Pharmaceuticals International Inc. will post $6.54 earnings per share for the current fiscal year.

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

Other hedge funds have recently made changes to their positions in the company. Nicholas Co. Inc. WI raised its stake in shares of Valeant Pharmaceuticals International by 15.6% in the fourth quarter. Nicholas Co. Inc. WI now owns 1,586,925 shares of the specialty pharmaceutical company’s stock worth $161,310,000 after buying an additional 214,435 shares during the last quarter. Dimensional Fund Advisors LP raised 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 last quarter. BNP Paribas Arbitrage SA raised 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 last quarter. I.G. Investment Management LTD. raised 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 worth $135,033,000 after buying an additional 314,616 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. raised its stake in shares of Valeant Pharmaceuticals International by 77.8% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 301,374 shares of the specialty pharmaceutical company’s stock worth $30,635,000 after buying an additional 131,832 shares during the last quarter.

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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