Published On: Wed, Sep 7th, 2016

Valeant Pharmaceuticals International Inc. (VRX) Earns “Sector Perform” Rating from RBC Capital Markets

Valeant Pharmaceuticals International Inc. (NYSE:VRX)‘s stock had its “sector perform” rating restated by research analysts at RBC Capital Markets in a research note issued to investors on Wednesday. They currently have a $36.00 price target on the specialty pharmaceutical company’s stock. RBC Capital Markets’ price target points to a potential upside of 22.16% from the company’s current price.
In related 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 cost of $24.48 per share, for a total transaction of $4,944,960.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,442,199 shares in the company, valued at $59,785,031.52. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Argeris N. Karabelas bought 4,000 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were bought at an average price of $24.65 per share, for a total transaction of $98,600.00. Following the completion of the acquisition, the director now owns 20,726 shares of the company’s stock, valued at $510,895.90. The disclosure for this purchase can be found here.
A number of institutional investors recently bought and sold shares of VRX. Acrospire Investment Management LLC bought a new position in Valeant Pharmaceuticals International during the first quarter valued at $108,000. Sapphire Star Partners LP raised its position in Valeant Pharmaceuticals International by 100.0% in the first quarter. Sapphire Star Partners LP now owns 6,000 shares of the specialty pharmaceutical company’s stock worth $608,000 after buying an additional 3,000 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new position in Valeant Pharmaceuticals International during the first quarter worth approximately $200,000. Boothbay Fund Management LLC raised its position in Valeant Pharmaceuticals International by 275.4% in the first quarter. Boothbay Fund Management LLC now owns 7,632 shares of the specialty pharmaceutical company’s stock worth $201,000 after buying an additional 5,599 shares during the last quarter. Finally, Cacti Asset Management LLC raised its position in Valeant Pharmaceuticals International by 68.0% in the second quarter. Cacti Asset Management LLC now owns 8,400 shares of the specialty pharmaceutical company’s stock worth $169,000 after buying an additional 3,400 shares during the last quarter.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/07/valeant-pharmaceuticals-international-inc-vrx-earns-sector-perform-rating-from-rbc-capital-markets.html

Valeant Pharmaceuticals International (NYSE:VRX) traded up 2.358% during trading on Wednesday, hitting $30.165. 5,640,843 shares of the stock traded hands. The stock’s market cap is $10.48 billion. The company has a 50-day moving average price of $26.18 and a 200-day moving average price of $32.76. Valeant Pharmaceuticals International has a 12 month low of $18.55 and a 12 month high of $245.82.
Valeant Pharmaceuticals International (NYSE:VRX) last announced its quarterly earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by $0.08. The firm earned $2.42 billion during the quarter, compared to analyst estimates of $2.47 billion. The company’s revenue for the quarter was down 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.14 EPS. Equities research analysts expect that Valeant Pharmaceuticals International will post $6.54 EPS for the current year.
A number of other analysts have also recently weighed in on VRX. Wells Fargo & Co. reiterated a “sell” rating and set a $19.50 price target on shares of Valeant Pharmaceuticals International in a research report on Sunday, July 17th. Mizuho restated an “underperform” rating on shares of Valeant Pharmaceuticals International in a research report on Sunday, July 17th. Rodman & Renshaw restated a “buy” rating and issued a $90.00 target price on shares of Valeant Pharmaceuticals International in a research report on Sunday, July 17th. TD Securities restated a “hold” rating and issued a $38.00 target price on shares of Valeant Pharmaceuticals International in a research report on Sunday, July 17th. Finally, Morgan Stanley restated an “overweight” rating and issued a $42.00 target price on shares of Valeant Pharmaceuticals International in a research report on Wednesday. Six research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Valeant Pharmaceuticals International presently has an average rating of “Hold” and an average price target of $60.32.
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).

Receive News & Ratings for Valeant Pharmaceuticals International Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Valeant Pharmaceuticals International Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>