Valeant Pharmaceuticals Intl Inc (NYSE:VRX) announced Arthur J. Shannon has joined the company as senior vice president, head of Investor Relations and Communications.
Mr. Shannon has more than 20 years of experience in the field of investor relations. He joins Valeant from Perrigo, Inc., where he served as vice president of Global Corporate Affairs and European Investor Relations. Prior to that, he held roles of increasing importance in investor relations at Thomson Financial and Dynegy, Inc.
“We’re delighted to welcome Art Shannon to the Valeant team,” said Paul S. Herendeen, executive vice president, Finance, and chief financial officer, Valeant. “With his in-depth knowledge of the pharmaceutical industry and proven track record in investor relations and strategic communications, Art will quickly become an important conduit between Valeant and the business community.”
With the addition of Mr. Shannon, Scott Hirsch will assume the role of senior vice president, chief business strategy officer. Mr. Hirsch will now dedicate his time to key corporate initiatives, including the development and execution of a five-year strategic plan.
Arthur J. Shannon joined Valeant Pharmaceuticals International, Inc. as senior vice president and head of Investor Relations and Communications on June 19, 2017. He previously held the role of vice president of Global Corporate Affairs and European Investor Relations for 11 years at Perrigo. Prior to that, Mr. Shannon served as vice president of Investor Relations for the Energy/Utility division at Thomson Financial, and earlier in his career, he was a senior director of Investor Relations at Dynegy, Inc. Mr. Shannon has received several accolades throughout his career, including the IR Magazine US Awards’ Top IR Professional award in 2012. He holds a Bachelor of Science in Business Administration: Finance from Georgetown University.
Shares of Valeant closed today at $13.47, up $0.82 or 6.44%. VRX has a 1-year high of $32.75 and a 1-year low of $8.31. The stock’s 50-day moving average is $12.35 and its 200-day moving average is $12.93.
On the ratings front, Valeant has been the subject of a number of recent research reports. In a report released today, Wells Fargo analyst David Maris maintained a Sell rating on VRX. On June 16, Guggenheim’s Louise Chen initiated coverage with a Buy rating on the stock and has a price target of $18.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, David Maris and Louise Chen have a yearly average return of 6.4% and a loss of 14.9% respectively. Maris has a success rate of 50% and is ranked #1245 out of 4570 analysts, while Chen has a success rate of 31% and is ranked #4492.
Sentiment on the street is mostly neutral on VRX stock. Out of 14 analysts who cover the stock, 9 suggest a Hold rating , 3 suggest a Sell and 2 recommend to Buy the stock. The 12-month average price target assigned to the stock is $13.67, which represents a slight upside potential from current levels.
Valeant Pharmaceuticals International, Inc. engages in the development, manufacture, and market of a broad range of pharmaceutical products in the areas of dermatology, gastrointestinal disorders, eye health, neurology and branded generics. It operates through the following segments: The Bausch + Lomb/International, The Branded Rx, and The U.S. Diversified products.