Valeant Pharmaceuticals Receives “Equal Weight” Rating from Morgan Stanley (VRX)
The analysts wrote, “Valeant is set to acquire topical aesthetics company, Obagi, for $360M (1% of VRX EV). The proposed acquisition of Obagi Medical Products will extend Valeant’s leadership in topical dermatology and aesthetics, which already includes Rx Acanya and Atralin for acne, OTC CeraVe moisturizing cream, Sculptra for lost collagen, and Dysport and Restylane for wrinkles.”
Several other analysts have also recently commented on the stock. Analysts at TD Securities raised their price target on shares of Valeant Pharmaceuticals from $77.00 to $85.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Valeant Pharmaceuticals in a research note to investors on Friday, March 1st. They now have a $77.00 price target on the stock. Finally, analysts at Paradigm Capital raised their price target on shares of Valeant Pharmaceuticals from $72.00 to $83.00 in a research note to investors on Friday, March 1st. They now have a “buy” rating on the stock.
Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Valeant Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $73.84.
Shares of Valeant Pharmaceuticals (NYSE: VRX) traded up 2.81% during mid-day trading on Wednesday, hitting $73.45. Valeant Pharmaceuticals has a one year low of $42.47 and a one year high of $72.04. The stock’s 50-day moving average is currently $67.84. The company’s market cap is $22.458 billion.
Valeant Pharmaceuticals (NYSE: VRX) last announced its earnings results on Thursday, February 28th. The company reported $1.34 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.21 by $0.13. The company had revenue of $946.67 million for the quarter, compared to the consensus estimate of $654.17 million. During the same quarter in the previous year, the company posted $0.94 earnings per share. The company’s revenue for the quarter was up 43.3% on a year-over-year basis.
Valeant Pharmaceuticals International, Inc., formerly Biovail Corporation, is a specialty pharmaceutical company that develops, manufactures and markets a range of pharmaceutical products.
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