Cantor Fitzgerald set a $23.00 target price on Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX) in a research report sent to investors on Wednesday morning. The brokerage currently has a buy rating on the specialty pharmaceutical company’s stock.

“Valeant announced that the FDA confirmed it intends to issue a Voluntary Action Indicated (VAI) inspection classification for its Bausch + Lomb manufacturing facility in Tampa, Florida.”,” Cantor Fitzgerald’s analyst commented.

Other equities research analysts have also recently issued reports about the stock. Jefferies Group LLC set a $18.00 price target on shares of Valeant Pharmaceuticals International and gave the stock a buy rating in a research report on Saturday, May 6th. Stifel Nicolaus reissued a buy rating and set a $45.00 price target on shares of Valeant Pharmaceuticals International in a research report on Wednesday, May 10th. Vetr cut shares of Valeant Pharmaceuticals International from a strong-buy rating to a buy rating and set a $14.94 price target on the stock. in a research report on Monday, May 15th. Guggenheim started coverage on shares of Valeant Pharmaceuticals International in a research report on Saturday, June 17th. They set a buy rating and a $18.00 price target on the stock. Finally, BidaskClub raised shares of Valeant Pharmaceuticals International from a hold rating to a buy rating in a research report on Thursday, June 29th. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $17.31.

Valeant Pharmaceuticals International (NYSE VRX) opened at 14.39 on Wednesday. The firm’s 50-day moving average is $16.18 and its 200 day moving average is $13.40. Valeant Pharmaceuticals International has a 52-week low of $8.31 and a 52-week high of $32.74. The firm’s market capitalization is $5.02 billion.

Valeant Pharmaceuticals International (NYSE:VRX) (TSE:VRX) last issued its quarterly earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.97 by $0.08. Valeant Pharmaceuticals International had a negative net margin of 12.40% and a positive return on equity of 59.89%. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same period in the previous year, the firm posted ($0.88) EPS. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. Equities analysts anticipate that Valeant Pharmaceuticals International will post $3.89 EPS for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley raised its position in shares of Valeant Pharmaceuticals International by 48.2% in the first quarter. Morgan Stanley now owns 2,777,063 shares of the specialty pharmaceutical company’s stock worth $30,631,000 after buying an additional 903,256 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Valeant Pharmaceuticals International by 61.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 41,414 shares of the specialty pharmaceutical company’s stock worth $457,000 after buying an additional 15,719 shares during the last quarter. Gabelli Funds LLC acquired a new position in shares of Valeant Pharmaceuticals International during the first quarter worth about $331,000. Bogle Investment Management L P DE acquired a new position in shares of Valeant Pharmaceuticals International during the first quarter worth about $11,223,000. Finally, Guggenheim Capital LLC raised its position in shares of Valeant Pharmaceuticals International by 18.6% in the fourth quarter. Guggenheim Capital LLC now owns 17,540 shares of the specialty pharmaceutical company’s stock worth $255,000 after buying an additional 2,752 shares during the last quarter. Hedge funds and other institutional investors own 50.96% of the company’s stock.

About Valeant Pharmaceuticals International

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).

Analyst Recommendations for Valeant Pharmaceuticals International (NYSE:VRX)

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