Things Are Looking Bullish for Valeant Pharmaceuticals Intl Inc (VRX) Ahead of Q2 Print
Controversial drug-maker Valeant Pharmaceuticals Intl Inc (NYSE:VRX) is due to report its Q2 results on August 8. The Street is forecasting EPS of $0.96 versus EPS of $1.4 in the same period last year. Ahead of this key date we wanted to look at what the results could hold for this volatile Canadian stock. After shares took a downward spiral in 2015 following a drug-pricing scandal, prices dropped all the way from $33 to just $8. However finally prices are on the mend- rising from $9 to $17.5 in the last three months.
This improved sentiment gives an indication of the fact that this quarter has been kind to Valeant. Let’s take a closer look at the various factors weighing on the stock:
Valeant has a Hold analyst consensus rating, according to financial accountability TipRanks, with most analysts sidelined on the stock. This consensus is based on the 3 buy, 9 hold and 3 sell ratings published on the stock in the last three months. In terms of average analyst price target, analysts are forecasting that over the next 12 months, VRX has -3.29% downside potential from the current share price.