Valeant Pharmaceuticals International, Inc. (VRX) Given a $23.00 Price Target by Cantor Fitzgerald Analysts

Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX) has been assigned a $23.00 target price by equities research analysts at Cantor Fitzgerald in a note issued to investors on Wednesday. The firm presently has a “buy” rating on the specialty pharmaceutical company’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 60.39% from the company’s previous close.

The analysts wrote, “Valeant announced that the FDA confirmed it intends to issue a Voluntary Action Indicated (VAI) inspection classification for its Bausch + Lomb manufacturing facility in Tampa, Florida.””

A number of other research analysts also recently commented on VRX. Jefferies Group LLC set a $18.00 price objective on shares of Valeant Pharmaceuticals International and gave the company a “buy” rating in a research note on Saturday, May 6th. Piper Jaffray Companies set a $14.00 price objective on shares of Valeant Pharmaceuticals International and gave the company a “sell” rating in a research note on Wednesday, August 9th. HC Wainwright set a $17.00 price objective on shares of Valeant Pharmaceuticals International and gave the company a “hold” rating in a research note on Wednesday, August 9th. Canaccord Genuity set a $14.00 price objective on shares of Valeant Pharmaceuticals International and gave the company a “hold” rating in a research note on Thursday, August 10th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $35.00 price objective on shares of Valeant Pharmaceuticals International in a research note on Thursday, August 10th. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $17.31.

Shares of Valeant Pharmaceuticals International (NYSE:VRX) opened at 14.34 on Wednesday. The firm’s market capitalization is $5.00 billion. The company’s 50-day moving average is $16.27 and its 200 day moving average is $13.39. Valeant Pharmaceuticals International has a 52 week low of $8.31 and a 52 week high of $32.74.

Valeant Pharmaceuticals International (NYSE:VRX) (TSE:VRX) last posted its quarterly earnings data on Tuesday, August 8th. The specialty pharmaceutical company reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.08. Valeant Pharmaceuticals International had a negative net margin of 12.40% and a positive return on equity of 59.89%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the prior year, the firm posted ($0.88) EPS. The firm’s revenue was down 7.7% compared to the same quarter last year. Analysts anticipate that Valeant Pharmaceuticals International will post $3.89 EPS for the current fiscal year.

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A number of institutional investors have recently added to or reduced their stakes in VRX. Cetera Investment Advisers bought a new position in Valeant Pharmaceuticals International during the second quarter valued at approximately $192,000. Scotia Capital Inc. boosted its position in Valeant Pharmaceuticals International by 12.8% in the second quarter. Scotia Capital Inc. now owns 43,235 shares of the specialty pharmaceutical company’s stock valued at $747,000 after buying an additional 4,916 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Valeant Pharmaceuticals International by 85.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 76,792 shares of the specialty pharmaceutical company’s stock valued at $1,329,000 after buying an additional 35,378 shares during the last quarter. Chou Associates Management Inc. boosted its position in Valeant Pharmaceuticals International by 29.7% in the second quarter. Chou Associates Management Inc. now owns 3,053,843 shares of the specialty pharmaceutical company’s stock valued at $53,030,000 after buying an additional 700,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Valeant Pharmaceuticals International by 5.0% in the second quarter. The Manufacturers Life Insurance Company now owns 1,059,100 shares of the specialty pharmaceutical company’s stock valued at $18,376,000 after buying an additional 50,529 shares during the last quarter. 50.96% of the stock is currently owned by hedge funds and other institutional investors.

Valeant Pharmaceuticals International Company Profile

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).

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