Equities researchers at Ladenburg Thalmann upped their target price on shares of Valeant Pharmaceuticals (NYSE: VRX) from $75.00 to $84.00 in a report issued on Friday. The firm currently has a “buy” rating on the stock.
Valeant Pharmaceuticals opened at 67.46 on Friday. Valeant Pharmaceuticals has a 1-year low of $42.47 and a 1-year high of $67.98. The stock’s 50-day moving average is currently $65.74. The company has a market cap of $20.563 billion and a price-to-earnings ratio of 766.59.
Valeant Pharmaceuticals last released its earnings data on Thursday, February 28th. The company reported $1.34 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.21 by $0.13. The company had revenue of $946.67 million for the quarter, compared to the consensus estimate of $654.17 million. During the same quarter last year, the company posted $0.94 earnings per share. Valeant Pharmaceuticals’s revenue was up 43.3% compared to the same quarter last year.
A number of other analysts have also recently weighed in on VRX. Analysts at Aegis initiated coverage on shares of Valeant Pharmaceuticals in a research note to investors on Friday, February 22nd. They set a “buy” rating and a $80.00 price target on the stock. Separately, analysts at Zacks downgraded shares of Valeant Pharmaceuticals from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, February 19th. They now have a $71.20 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Valeant Pharmaceuticals in a research note to investors on Monday, January 7th. They now have a $77.00 price target on the stock, up previously from $75.00.
Fourteen investment analysts have rated the stock with a buy rating, four have issued a hold rating, and one has issued an underweight rating to the stock. The stock currently has a consensus rating of “overweight” and a consensus price target of $72.80.
Valeant Pharmaceuticals International, Inc., formerly Biovail Corporation, is a specialty pharmaceutical company that develops, manufactures and markets a range of pharmaceutical products.
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