Valeant Pharmaceuticals Intl Inc (NYSE:VRX) routinely evaluates refinancing opportunities, including capital markets transactions, to continue to enhance its capital structure. As part of this, the Company filed a routine private placement exemption application with Autorité des marchés financiers, the principal securities regulator in Quebec. At this time, no decision has been made with respect to any capital markets transactions. The Company does not intend to provide any updates on its financing plans until a definitive decision on any such financing has been made.
Shares of Valeant are currently trading at $13.79, down $0.60 or -4.17%. VRX has a 1-year high of $26.45 and a 1-year low of $8.31. The stock’s 50-day moving average is $13.94 and its 200-day moving average is $13.27.
On the ratings front, Valeant has been the subject of a number of recent research reports. In a report issued on September 25, Cantor analyst Louise Chen assigned a Buy rating on VRX, with a price target of $23, which represents a potential upside of 60% from where the stock is currently trading. Separately, on the same day, Deutsche Bank’s Gregg Gilbert maintained a Hold rating on the stock and has a price target of $19.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Louise Chen and Gregg Gilbert have a yearly average loss of 8.4% and 3.1% respectively. Chen has a success rate of 42% and is ranked #4548 out of 4669 analysts, while Gilbert has a success rate of 42% and is ranked #4164.
Overall, 3 research analysts have rated the stock with a Sell rating, 7 research analysts have assigned a Hold rating and 3 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $21.25 which is 47.7% above where the stock closed yesterday.
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.