Zacks lowered shares of Valeant Pharmaceuticals (NYSE:VRX) from an outperform rating to a neutral rating in a report released on Wednesday, Stock Ratings Network reports. Zacks currently has $116.40 price objective on the stock.
Zacks has also modified their ratings on a number of other healthcare stocks in the few days. The firm upgraded shares of Oculus Innovative Sciences from an underperform rating to a neutral rating. The firm now has a $2.70 price target on that stock. Also, Zacks upgraded shares of Porter Bancorp from a neutral rating to an outperform rating. Zacks now has a $1.40 price target on that stock. Finally, Zacks downgraded shares of Allot Communications Ltd. from a neutral rating to an underperform rating. Their analysts now have a $12.20 price target on that stock.
A number of other analysts have also recently weighed in on VRX. Analysts at Ladenburg Thalmann cut their price target on shares of Valeant Pharmaceuticals from $127.00 to $123.00 in a research note to investors on Friday, November 1st. They now have a buy rating on the stock. Separately, analysts at Goldman Sachs Group Inc. reiterated a conviction-buy rating on shares of Valeant Pharmaceuticals in a research note to investors on Thursday, October 31st. They now have a $130.00 price target on the stock. Finally, analysts at FBR Capital Markets initiated coverage on shares of Valeant Pharmaceuticals in a research note to investors on Wednesday, October 30th. They set an outperform rating and a $130.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $114.03.
In other Valeant Pharmaceuticals news, Director Ronald Harold Farmer purchased 1,500 shares of the company’s stock on the open market in a transaction dated Wednesday, November 6th. The stock was purchased at an average price of $107.98 per share, for a total transaction of $161,970.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
Valeant Pharmaceuticals (NYSE:VRX) traded up 2.33% on Wednesday, hitting $105.44. The stock had a trading volume of 858,302 shares. Valeant Pharmaceuticals has a 1-year low of $52.53 and a 1-year high of $115.40. The stock has a 50-day moving average of $108.6 and a 200-day moving average of $94.04. The company’s market cap is $32.239 billion.
Valeant Pharmaceuticals (NYSE:VRX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.51 earnings per share (EPS) for the quarter, beating the 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 last year, the company posted $1.15 earnings per share. Valeant Pharmaceuticals’s revenue was up 74.4% compared to the same quarter last year. On average, analysts predict that Valeant Pharmaceuticals will post $6.14 earnings per share for the current fiscal year.
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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