Valeant Pharmaceuticals International Inc. (VRX) Shares Up 18.8%
Valeant Pharmaceuticals International Inc. (NYSE:VRX)’s share price shot up 18.8% on Tuesday . The company traded as high as $26.99 and last traded at $26.68, with a volume of 63,515,166 shares. The stock had previously closed at $22.45.
A number of brokerages recently weighed in on VRX. Rodman & Renshaw reduced their target price on shares of Valeant Pharmaceuticals International from $90.00 to $81.00 and set a “buy” rating for the company in a research note on Tuesday. Morgan Stanley set a $33.00 target price on shares of Valeant Pharmaceuticals International and gave the stock a “hold” rating in a research note on Wednesday, August 3rd. Canaccord Genuity reaffirmed a “hold” rating and issued a $28.00 target price on shares of Valeant Pharmaceuticals International in a research note on Monday, August 1st. Wells Fargo & Co. reaffirmed an “underperform” rating and issued a $19.50 target price on shares of Valeant Pharmaceuticals International in a research note on Monday, August 1st. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $32.00 target price (down from $35.00) on shares of Valeant Pharmaceuticals International in a research note on Tuesday, July 26th. Seven research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Valeant Pharmaceuticals International has an average rating of “Hold” and a consensus target price of $63.82.
The company’s market capitalization is $9.66 billion. The company’s 50-day moving average is $22.18 and its 200 day moving average is $41.77.
Valeant Pharmaceuticals International (NYSE:VRX) last announced its quarterly earnings data 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. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter last year, the company posted $2.14 earnings per share. The business’s revenue for the quarter was down 11.4% on a year-over-year basis. On average, analysts expect that Valeant Pharmaceuticals International Inc. will post $6.53 earnings per share for the current year.
In other Valeant Pharmaceuticals International news, CEO Joseph C. Papa purchased 202,000 shares of the stock in a transaction dated 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 approximately $59,785,031.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Several hedge funds have bought and sold shares of VRX. Dimensional Fund Advisors LP raised its stake in 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 valued at $8,110,000 after buying an additional 2,500 shares during the period. Deere & Co. raised its stake in 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. Atlantic Trust Group LLC raised its stake in Valeant Pharmaceuticals International by 79.7% in the fourth quarter. Atlantic Trust Group LLC now owns 40,283 shares of the specialty pharmaceutical company’s stock valued at $4,095,000 after buying an additional 17,868 shares during the period. State of New Jersey Common Pension Fund D acquired a new stake in Valeant Pharmaceuticals International during the fourth quarter valued at about $2,033,000. Finally, Suntrust Banks Inc. raised its stake in 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 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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