Valeant Pharmaceuticals International’s (VRX) Hold Rating Reiterate at the Canaccord Genuity

Valeant Pharmaceuticals International’s (VRX) Hold Rating Reiterate at the Canaccord Genuity

Canaccord Genuity reiterated their hold rating on shares of Valeant Pharmaceuticals International Inc. (NYSE:VRX) in a research note published on Wednesday morning. They currently have a $17.00 target price on the specialty pharmaceutical company’s stock, down from their previous target price of $33.00.

Several other equities analysts have also recently weighed in on the stock. RBC Capital Markets set a $29.00 target price on shares of Valeant Pharmaceuticals International and gave the company a sector perform rating in a research note on Wednesday, November 9th. Royal Bank Of Canada cut their target price on shares of Valeant Pharmaceuticals International from $35.00 to $29.00 and set a sector perform rating for the company in a research note on Wednesday, November 9th. Guggenheim reaffirmed a positive rating and set a $55.00 target price on shares of Valeant Pharmaceuticals International in a research note on Tuesday, November 8th. BTIG Research reaffirmed a neutral rating and set a $24.00 target price on shares of Valeant Pharmaceuticals International in a research note on Thursday, November 3rd. Finally, Morgan Stanley reaffirmed an overweight rating and set a $42.00 target price on shares of Valeant Pharmaceuticals International in a research note on Wednesday, November 2nd. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $40.18.

Valeant Pharmaceuticals International (NYSE:VRX) opened at 18.00 on Wednesday. The firm has a 50 day moving average of $22.04 and a 200-day moving average of $25.21. Valeant Pharmaceuticals International has a 52-week low of $13.77 and a 52-week high of $119.87. The stock’s market cap is $6.26 billion.

Valeant Pharmaceuticals International (NYSE:VRX) last announced its quarterly earnings data on Tuesday, November 8th. The specialty pharmaceutical company reported $1.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.78 by $0.23. The firm earned $2.48 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Valeant Pharmaceuticals International had a positive return on equity of 43.81% and a negative net margin of 22.17%. The business’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same period last year, the company earned $2.74 earnings per share. Equities analysts anticipate that Valeant Pharmaceuticals International will post $5.63 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley boosted its stake in shares of Valeant Pharmaceuticals International by 241.6% in the third quarter. Morgan Stanley now owns 5,967,745 shares of the specialty pharmaceutical company’s stock valued at $146,508,000 after buying an additional 4,220,573 shares during the last quarter. Acrospire Investment Management LLC boosted its stake in shares of Valeant Pharmaceuticals International by 300.0% in the third quarter. Acrospire Investment Management LLC now owns 13,200 shares of the specialty pharmaceutical company’s stock valued at $324,000 after buying an additional 9,900 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Valeant Pharmaceuticals International by 24.3% in the third quarter. Northern Trust Corp now owns 282,495 shares of the specialty pharmaceutical company’s stock valued at $6,935,000 after buying an additional 55,209 shares during the last quarter. Columbus Circle Investors boosted its stake in shares of Valeant Pharmaceuticals International by 24.6% in the third quarter. Columbus Circle Investors now owns 155,280 shares of the specialty pharmaceutical company’s stock valued at $3,812,000 after buying an additional 30,662 shares during the last quarter. Finally, Princeton Alpha Management LP acquired a new stake in shares of Valeant Pharmaceuticals International during the third quarter valued at approximately $361,000. Institutional investors own 65.50% of the company’s stock.

Valeant Pharmaceuticals International Company Profile

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