Valeant to sell its iNova Pharmaceuticals business for $930 mln
- Author: Zachary Reyes Jun 09, 2017,
Jun 09, 2017, 0:35
On the ratings front, Valeant has been the subject of a number of recent research reports. Finally, Wells Fargo & Co reaffirmed an "underperform" rating and set a $8.00 price objective (down previously from $11.50) on shares of Valeant Pharmaceuticals Intl in a research report on Sunday, April 23rd. The stock has an average rating of "Hold" and a consensus target price of $18.01. Earnings per share serves as an indicator of a company's profitability.
None of the companies announced how the iNova deal will be split between the two buyers.
Valeant Pharmaceuticals Intl (VRX) traded down 3.11% on Wednesday, hitting $12.17. 26,345,824 shares of the company traded hands. The relative volume of the stock is 0.52, while its market cap is $4.32 Billion. Accipiter Capital Management Llc sold 1.06M shares as Valeant Pharmaceuticals Intl (Call) (VRX)'s stock declined 15.71%.
If we glance over stock price target, the analysts were fairly in stock's favor assigning high price target of $35 and low range of price target has $8.
The company is expected to report earnings of $0.98 a share for the next quarter. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.17 billion. It has a Return on Investment (ROI) of -25.90% and a gross margin of 24.00%. The firm earned "Sector Perform" rating on Thursday, March 23 by RBC Capital Markets. The specialty pharmaceutical company reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $1.93. If you are reading this article on another domain, it was illegally copied and republished in violation of USA & global copyright laws.
More notable recent Valeant Pharmaceuticals Intl Inc (NYSE:VRX) news were published by: Seekingalpha.com which released: "Valeant: There Is Significant Bankruptcy Risk Here" on June 06, 2017, also Business.Financialpost.com with their article: "Valeant Pharmaceuticals International Inc swings to first profit in 6 quarters ..." published on May 09, 2017, Seekingalpha.com published: "5 More Reasons Valeant Pharmaceuticals Bottomed" on May 15, 2017. DE SCHUTTER RICHARD U had bought 20,000 shares worth $278,000 on Thursday, May 11. Shares price moved down from its 50 days moving average with -3.94% and remote positively from 200 days moving average with -3.09%. After this purchase, 174,000 common shares of VRX are directly owned by the insider, with total stake valued at $2,117,580. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The Director added these shares by way of transaction on March 15, 2017. They may also be used to assist the trader figure out proper support and resistance levels for the stock. Hitchwood Capital Management Lp bought 100,000 shares as the company's stock rose 3.82% with the market. It turned negative, as 82 investors sold VRX shares while 87 reduced holdings. Blackrock Incorporated invested 0% of its portfolio in Valeant Pharmaceuticals Intl Inc (NYSE:VRX). Investors measure stock performance on the basis of a company's earnings power.
EyeGate Pharmaceuticals, Inc., a clinical-stage specialty pharmaceutical company, focuses on developing and commercializing drug compositions and drug delivery systems for treating diseases and disorders of the eye. Valeant Pharmaceuticals Intl's revenue was down 11.1% on a year-over-year basis.
In terms of Buy, Sell or Hold recommendations, Valeant Pharmaceuticals International, Inc.
Canada based company, Valeant Pharmaceuticals International, Inc.