Cantor Fitzgerald set a $23.00 price objective on Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSE:VRX) in a research note published on Friday morning. The firm currently has a buy rating on the specialty pharmaceutical company’s stock.

Several other research analysts have also recently weighed in on VRX. Piper Jaffray Companies restated an outperform rating and set a $10.00 target price on shares of Valeant Pharmaceuticals International in a report on Friday, April 14th. Mizuho restated an underperform rating and set a $8.00 target price (down from $9.00) on shares of Valeant Pharmaceuticals International in a report on Monday, April 17th. Royal Bank Of Canada restated a sector perform rating and set a $18.00 target price on shares of Valeant Pharmaceuticals International in a report on Wednesday, April 19th. Deutsche Bank AG lowered their target price on Valeant Pharmaceuticals International from $19.00 to $18.00 and set a hold rating on the stock in a report on Wednesday, April 19th. Finally, J P Morgan Chase & Co lowered their target price on Valeant Pharmaceuticals International from $15.00 to $10.00 and set a neutral rating on the stock in a report on Thursday, April 20th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Valeant Pharmaceuticals International currently has an average rating of Hold and a consensus target price of $16.86.

Shares of Valeant Pharmaceuticals International (VRX) opened at 16.46 on Friday. The stock’s market capitalization is $5.73 billion. Valeant Pharmaceuticals International has a 12 month low of $8.31 and a 12 month high of $32.74. The firm’s 50-day moving average price is $16.04 and its 200-day moving average price is $13.33.

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

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In related news, Director Schutter Richard U. De acquired 20,000 shares of the business’s stock in a transaction dated Thursday, May 11th. The shares were acquired at an average price of $13.90 per share, with a total value of $278,000.00. Following the completion of the transaction, the director now owns 70,572 shares of the company’s stock, valued at $980,950.80. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.87% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of VRX. Gruss & Co. Inc. bought a new stake in Valeant Pharmaceuticals International during the first quarter worth $104,000. Financial Architects Inc raised its stake in Valeant Pharmaceuticals International by 18.6% in the first quarter. Financial Architects Inc now owns 9,550 shares of the specialty pharmaceutical company’s stock worth $105,000 after buying an additional 1,500 shares in the last quarter. Harbor Advisors LLC bought a new stake in Valeant Pharmaceuticals International during the first quarter worth $110,000. WMS Partners LLC bought a new stake in Valeant Pharmaceuticals International during the first quarter worth $116,000. Finally, Brave Asset Management Inc. bought a new stake in Valeant Pharmaceuticals International during the first quarter worth $119,000. 50.53% of the stock is currently 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).

Analyst Recommendations for Valeant Pharmaceuticals International (NYSE:VRX)

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