Valeant Pharmaceuticals Intl Inc (NYSE:VRX) learned that a criminal complaint was filed in relation to Philidor. Gary Tanner and Andrew Davenport were charged in the matter. The company, former CEO, former CFO, and current executives have not been charged at this time. Gary Tanner ceased to be a Valeant employee on September 13, 2015, and Andrew Davenport has never been an employee of the Company. The counts issued today include allegations that the charged parties engaged in actions to defraud Valeant as a company. Valeant continues to cooperate with all relevant authorities in this matter. (Original Source)
Shares of Valeant Pharmaceuticals are currently trading at $17.63, down $0.23 or -1.29%. VRX has a 1-year high of $119.87 and a 1-year low of $13.77. The stock’s 50-day moving average is $23.46 and its 200-day moving average is $25.63.
On the ratings front, VRX stock has been the subject of a number of recent research reports. In a report issued on November 15, Wells Fargo analyst David Maris maintained a Sell rating on VRX, with a price target of $11.50, which reflects a potential downside of 35% from last closing price. Separately, on November 14, Deutsche Bank’s Gregg Gilbert maintained a Hold rating on the stock and has a price target of $24.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, David Maris and Gregg Gilbert have a yearly average return of 8.6% and a loss of 4.6% respectively. Maris has a success rate of 51% and is ranked #547 out of 4226 analysts, while Gilbert has a success rate of 37% and is ranked #3853.
Sentiment on the Street is mostly neutral on VRX stock. Out of 12 analysts who cover the stock, 8 suggest a Hold rating , 2 suggest a Sell and 2 recommend to Buy the stock. The 12-month average price target assigned to the stock is $23.63, which represents a potential upside of 34% from where the stock is currently trading.
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.