Royal Bank Of Canada Cuts Valeant Pharmaceuticals International Inc. (VRX) Price Target to $35.00
Valeant Pharmaceuticals International Inc. (NYSE:VRX) had its target price cut by Royal Bank Of Canada from $36.00 to $35.00 in a research report report published on Wednesday morning, StockTargetPrices.com reports. They currently have a sector perform rating on the specialty pharmaceutical company’s stock.
Other equities research analysts have also recently issued research reports about the company. TD Securities reaffirmed a hold rating and set a $38.00 target price on shares of Valeant Pharmaceuticals International in a research note on Sunday, July 17th. Rodman & Renshaw reaffirmed a buy rating and set a $90.00 target price on shares of Valeant Pharmaceuticals International in a research note on Sunday, July 17th. Mizuho reissued an underperform rating on shares of Valeant Pharmaceuticals International in a research note on Sunday, July 17th. Wells Fargo & Co. reissued a sell rating and issued a $19.50 price objective on shares of Valeant Pharmaceuticals International in a research note on Sunday, July 17th. Finally, JPMorgan Chase & Co. set a $35.00 price objective on Valeant Pharmaceuticals International and gave the company a hold rating in a research note on Monday, July 25th. Six analysts have rated the stock with a sell rating, fifteen have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $56.45.
Shares of Valeant Pharmaceuticals International (NYSE:VRX) opened at 22.18 on Wednesday. Valeant Pharmaceuticals International has a 1-year low of $18.55 and a 1-year high of $171.50. The company’s market cap is $7.71 billion. The firm has a 50-day moving average price of $26.60 and a 200 day moving average price of $26.84.
Valeant Pharmaceuticals International (NYSE:VRX) last released its earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.48 by $0.08. Valeant Pharmaceuticals International had a positive return on equity of 46.59% and a negative net margin of 9.29%. The business 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 earned $2.14 EPS. The company’s revenue for the quarter was down 11.4% on a year-over-year basis. On average, equities analysts anticipate that Valeant Pharmaceuticals International will post $6.53 earnings per share for the current year.
In other Valeant Pharmaceuticals International news, Director Argeris N. Karabelas purchased 4,000 shares of the stock in a transaction on Thursday, August 11th. The stock was acquired at an average price of $24.65 per share, with a total value of $98,600.00. Following the transaction, the director now directly owns 20,726 shares of the company’s stock, valued at approximately $510,895.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 16.37% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VRX. HBK Investments L P acquired a new position in Valeant Pharmaceuticals International during the first quarter worth approximately $3,260,000. Bogle Investment Management L P DE purchased a new position in Valeant Pharmaceuticals International during the first quarter worth $11,022,000. Chou Associates Management Inc. purchased a new position in Valeant Pharmaceuticals International during the first quarter worth $25,725,000. AXA increased its position in Valeant Pharmaceuticals International by 19.6% in the first quarter. AXA now owns 40,063 shares of the specialty pharmaceutical company’s stock worth $1,055,000 after buying an additional 6,568 shares during the period. Finally, Quadrature Capital Ltd purchased a new position in Valeant Pharmaceuticals International during the first quarter worth $741,000. 63.59% of the stock is owned by institutional investors and hedge funds.
Valeant Pharmaceuticals International Company Profile
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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