Valeritas (NASDAQ:VLRX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “Valeritas Holdings Inc. is a commercial-stage medical technology company which focused on developing technologies for Type 2 diabetes. The company’s product pipeline consists of V-Go (R) Disposable Insulin Delivery device, is a simple, wearable, basal-bolus insulin delivery solution for Type 2 diabetes which enables patients to administer a continuous preset basal rate infusion of insulin. Valeritas Holdings Inc. is headquartered in Bridgewater, New Jersey. “

Other equities research analysts also recently issued reports about the company. Oppenheimer reiterated a “buy” rating on shares of Valeritas in a report on Monday, January 14th. BTIG Research started coverage on shares of Valeritas in a research note on Tuesday, December 4th. They set a “buy” rating and a $1.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Valeritas has a consensus rating of “Buy” and an average price target of $2.50.

Shares of NASDAQ VLRX opened at $0.40 on Tuesday. The stock has a market capitalization of $9.36 million, a PE ratio of -0.05 and a beta of 1.97. The company has a debt-to-equity ratio of 13.66, a current ratio of 3.00 and a quick ratio of 2.47. Valeritas has a fifty-two week low of $0.30 and a fifty-two week high of $4.58.

In related news, major shareholder Armistice Capital Master Fund bought 150,000 shares of the business’s stock in a transaction that occurred on Monday, December 10th. The stock was acquired at an average price of $0.34 per share, for a total transaction of $51,000.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders purchased a total of 1,005,000 shares of company stock valued at $369,400 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in Valeritas by 138.0% in the 4th quarter. Geode Capital Management LLC now owns 186,971 shares of the company’s stock valued at $60,000 after buying an additional 108,416 shares in the last quarter. Northern Trust Corp increased its position in Valeritas by 855.4% during the fourth quarter. Northern Trust Corp now owns 185,469 shares of the company’s stock worth $60,000 after purchasing an additional 166,057 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Valeritas by 730.3% in the 3rd quarter. Renaissance Technologies LLC now owns 163,650 shares of the company’s stock worth $218,000 after buying an additional 143,940 shares in the last quarter. Institutional investors and hedge funds own 6.48% of the company’s stock.

About Valeritas

Valeritas Holdings, Inc, a commercial-stage medical technology company, focuses on the development and commercialization of technologies to treat patients with Type 2 diabetes in the United States and China. It offers V-Go, a wearable insulin delivery device for basal-bolus therapy. The company also develops h-Patch, a controlled delivery technology platform; Mini-Ject technology for needle-free injection systems; and Micro-Trans technology for microneedle design, fabrication, and drug delivery.

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