Valeant Pharmaceuticals Intl Inc (VRX) was Upgraded by Morgan Stanley to ” Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 42 from a previous price target of $33 . Earlier the firm had a rating of “Equal-Weight ” on the company shares. Morgan Stanley advised their investors in a research report released on Aug 17, 2016.
Many Wall Street Analysts have commented on Valeant Pharmaceuticals Intl Inc. Company shares were Upgraded by Mizuho on Aug 15, 2016 to ” Neutral”, Firm has raised the Price Target to $ 25 from a previous price target of $11 .Company shares were Reiterated by Piper Jaffray on Aug 10, 2016 to “Underweight”, Firm has raised the Price Target to $ 22 from a previous price target of $19 .Company shares were Reiterated by RBC Capital Mkts on Aug 10, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 36 from a previous price target of $31 .
On the company’s financial health, Valeant Pharmaceuticals Intl Inc reported $1.40 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Aug 9, 2016. Analyst had a consensus of $1.48. The company had revenue of $2420.20 million for the quarter, compared to analysts expectations of $2451.77 million. The company’s revenue was down -11.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.14 EPS.
Valeant Pharmaceuticals Intl Inc opened for trading at $25.63 and hit $26.91 on the upside on Monday, eventually ending the session at $26.59, with a gain of 6.70% or 1.67 points. The heightened volatility saw the trading volume jump to 2,88,95,668 shares. Company has a market cap of $9,241 M.
In a different news, on Aug 12, 2016, Argeris N Karabelas (director) purchased 4,000 shares at $24.65 per share price. According to the SEC, on Jun 27, 2016, Thomas W. Sr. Ross (director) purchased 4,000 shares at $24.40 per share price. On Jun 13, 2016, Joseph C Papa (CEO) purchased 202,000 shares at $24.48 per share price, according to the Form-4 filing with the securities and exchange commission.
Valeant Pharmaceuticals International Inc. is a specialty pharmaceutical and medical device company. The Company is engaged in developing manufacturing 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) which are marketed directly or indirectly in over 100 countries. The Company operates through two segments: developed markets and emerging markets. The Company’s developed markets segment consists of sales in the United States of pharmaceutical products OTC products and medical device products. The Company’s Emerging Markets segment consists of branded generic pharmaceutical products and branded pharmaceuticals OTC products and medical device products.