Valeant Pharmaceuticals International, Inc. (VRX) Cut to Buy at Vetr Inc.

Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a report released on Monday, May 22nd. They presently have a $14.82 target price on the specialty pharmaceutical company’s stock. Vetr‘s target price indicates a potential upside of 17.06% from the stock’s current price.

Several other research firms also recently weighed in on VRX. HC Wainwright set a $23.00 target price on shares of Valeant Pharmaceuticals International and gave the stock a “hold” rating in a research report on Tuesday, February 28th. J P Morgan Chase & Co reissued a “hold” rating on shares of Valeant Pharmaceuticals International in a research report on Tuesday, May 9th. TD Securities dropped their target price on shares of Valeant Pharmaceuticals International from $18.50 to $15.00 and set a “hold” rating for the company in a research report on Wednesday, May 10th. Morgan Stanley reissued an “equal weight” rating and issued a $12.00 target price (down previously from $17.00) on shares of Valeant Pharmaceuticals International in a research report on Saturday, March 11th. Finally, Deutsche Bank AG dropped their target price on shares of Valeant Pharmaceuticals International from $20.00 to $19.00 and set a “hold” rating for the company in a research report on Tuesday, March 7th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $18.11.

Analyst Recommendations for Valeant Pharmaceuticals International (NYSE:VRX)

Valeant Pharmaceuticals International (VRX) traded up 4.46% during trading on Monday, reaching $12.66. The company had a trading volume of 14,674,829 shares. Valeant Pharmaceuticals International has a 52-week low of $8.31 and a 52-week high of $32.74. The company’s market capitalization is $4.40 billion. The stock has a 50 day moving average price of $12.26 and a 200-day moving average price of $12.99. Valeant Pharmaceuticals International also was the recipient of unusually large options trading activity on Friday. Stock investors bought 35,088 put options on the company. This represents an increase of approximately 215% compared to the average volume of 11,124 put options.

Valeant Pharmaceuticals International (NYSE:VRX) (TSE:VRX) last issued its quarterly earnings data on Tuesday, May 9th. The specialty pharmaceutical company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $1.93. Valeant Pharmaceuticals International had a negative net margin of 14.96% and a positive return on equity of 58.02%. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the business posted ($1.08) EPS. The firm’s revenue was down 11.1% compared to the same quarter last year. On average, equities research analysts anticipate that Valeant Pharmaceuticals International will post $3.89 earnings per share for the current fiscal year.

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In related news, Director Schutter Richard U. De purchased 20,000 shares of Valeant Pharmaceuticals International stock in a transaction dated Thursday, May 11th. The stock was bought at an average cost of $13.90 per share, with a total value of $278,000.00. Following the purchase, the director now owns 70,572 shares in the company, valued at approximately $980,950.80. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 5.87% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in VRX. Tocqueville Asset Management L.P. raised its stake in Valeant Pharmaceuticals International by 9.9% in the third quarter. Tocqueville Asset Management L.P. now owns 56,614 shares of the specialty pharmaceutical company’s stock valued at $1,390,000 after buying an additional 5,095 shares in the last quarter. Jackson Park Capital LLC raised its stake in Valeant Pharmaceuticals International by 47.6% in the third quarter. Jackson Park Capital LLC now owns 31,000 shares of the specialty pharmaceutical company’s stock valued at $761,000 after buying an additional 10,000 shares in the last quarter. Phoenix Investment Adviser LLC raised its stake in Valeant Pharmaceuticals International by 14.4% in the third quarter. Phoenix Investment Adviser LLC now owns 93,900 shares of the specialty pharmaceutical company’s stock valued at $2,305,000 after buying an additional 11,800 shares in the last quarter. CIBC World Markets Inc. raised its stake in Valeant Pharmaceuticals International by 3.3% in the third quarter. CIBC World Markets Inc. now owns 3,819,702 shares of the specialty pharmaceutical company’s stock valued at $93,774,000 after buying an additional 122,820 shares in the last quarter. Finally, Gramercy Funds Management LLC acquired a new stake in Valeant Pharmaceuticals International during the third quarter valued at approximately $614,000. 50.43% of the stock is owned by institutional investors and hedge funds.

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).

To view Vetr’s full report, visit Vetr’s official website.

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