In a report released today, Lennox Gibbs from TD Securities downgraded Valeant Pharma (NYSE: VRX) to Hold. The company’s shares closed yesterday at $24.72.
According to TipRanks.com, Gibbs is ranked #4591 out of 4829 analysts.
Currently, the analyst consensus on Valeant Pharma is Hold and the average price target is $21.55, representing a -12.8% downside.
In a report issued on June 19, H.C. Wainwright also reiterated a Hold rating on the stock with a $20 price target.
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Based on Valeant Pharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $2.69 billion. In comparison, last year the company earned revenue of $2.11 billion and had a net profit of $628 million.
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Valeant Pharmaceuticals International, Inc. engages in the development, manufacture, and market of a range of branded, generic and branded generic pharmaceuticals, medical devices and over-the-counter products. It operates through the following segments: The Bausch + Lomb/International, Branded Rx, and U.S. Diversified Products.
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