FBR Capital Markets initiated coverage on shares of Valeant Pharmaceuticals (NYSE:VRX) in a research report released on Wednesday morning, TheFlyOnTheWall.com reports. The firm issued an outperform rating and a $130.00 price objective on the stock.
FBR Capital Markets has also taken action a number of other healthcare stocks recently. The firm initiated coverage on shares of Amarin Co. plc. They issued a market perform rating on that stock and set a $2.00 price target. Also, FBR Capital Markets reiterated its marketperform rating on shares of Susquehanna. They have a $16.00 price target on that stock, up previously from $13.00.
Valeant Pharmaceuticals (NYSE:VRX) traded up 5.18% on Wednesday, hitting $111.20. 2,534,980 shares of the company’s stock traded hands. Valeant Pharmaceuticals has a 52-week low of $50.74 and a 52-week high of $105.40. The stock has a 50-day moving average of $107.7 and a 200-day moving average of $92.81. The company’s market cap is $37.088 billion.
Valeant Pharmaceuticals (NYSE:VRX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.51 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.40 by $0.11. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $884.14 million. During the same quarter in the prior year, the company posted $1.15 earnings per share. The company’s quarterly revenue was up 74.4% on a year-over-year basis. Analysts expect that Valeant Pharmaceuticals will post $6.14 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Aegis reiterated a positive rating on shares of Valeant Pharmaceuticals in a research note to investors on Monday. Separately, analysts at Zacks upgraded shares of Valeant Pharmaceuticals from a neutral rating to an outperform rating in a research note to investors on Tuesday, October 8th. They now have a $112.40 price target on the stock. Finally, analysts at CRT Capital raised their price target on shares of Valeant Pharmaceuticals from $110.00 to $130.00 in a research note to investors on Monday, October 7th. They now have a buy rating on the stock. One equities research analyst has rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $113.76.
Valeant Pharmaceuticals International, Inc, formerly Biovail Corporation, is a multinational, specialty pharmaceutical company that develops, manufactures and markets a range of pharmaceutical products.
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