Valeant Pharma Receives a Sell from Mizuho SecuritiesBy Carrie Williams
In a report issued on November 29, Irina Rivkind Koffler from Mizuho Securities reiterated a Sell rating on Valeant Pharma (NYSE: VRX), with a price target of $11. The company’s shares closed yesterday at $15.31, close to its 52-week low of $13.77.
According to TipRanks.com, Koffler is a top 100 analyst with an average return of 15.6% and a 48.7% success rate. Koffler covers the Healthcare sector, focusing on stocks such as Apricus Biosciences Inc, Sucampo Pharmaceuticals, and Pacira Pharmaceuticals.
Currently, the analyst consensus on Valeant Pharma is Hold and the average price target is $20.13, representing a 31.5% upside.
In a report issued on November 15, Wells Fargo also maintained a Sell rating on the stock with a $11.50 price target.
Based on Valeant Pharma’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $2.48 billion and GAAP net loss of $1.22 billion. In comparison, last year the company earned revenue of $2.79 billion and had a net profit of $49.5 million.
Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VRX in relation to earlier this year.
Valeant Pharmaceuticals International, Inc. is a multinational specialty pharmaceutical company that develops manufactures and markets a broad range of pharmaceutical products primarily in the areas of dermatology, eye health, neurology, and branded generics. The company operates through two operating and reportable segments: (i) Developed Markets and (ii) Emerging Markets. The Developed Markets segment consists of (i) sales in the U.S. of pharmaceutical products, OTC products, and medical device products, as well as alliance and contract service revenues, in the areas of eye health, dermatology and podiatry, aesthetics and dentistry, (ii) sales in the U.S. of pharmaceutical products indicated for the treatment of neurological and other diseases, as well as alliance revenue from the licensing of various products it developed or acquired, and (iii) pharmaceutical products, OTC products, and medical device products sold in Canada, Australia, New Zealand, Western Europe and Japan. The Emerging Markets segment consists of branded generic pharmaceutical products and pharmaceuticals, OTC products, and medical device products. Products are sold primarily in Central and Eastern Europe (primarily Poland and Russia), Asia, Latin America (Mexico, Brazil, and Argentina and exports out of Mexico to other Latin American markets), Africa and the Middle East. Valeant Pharmaceuticals was founded on March 29, 1994 and is headquartered in Laval, Canada.