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Why Valeant Pharmaceuticals Intl Inc(NYSE: VRX) stock will be under pressure today

15 March, 2017, 00:46 | Author: Paula Vaughn
  • What are analysts Suggestions on: Valeant Pharmaceuticals International, Inc. (NYSE:VRX)

The energy group retreated 2.3 per cent as oil prices fell to three-month lows after OPEC reported that crude inventories in developed countries had risen above the five-year average in January despite production cuts by some of the world's largest exporters.

Valeant, which technically is based in Canada but operates from headquarters in Bridgewater, New Jersey, ousted Michael Pearson, the CEO responsible for the price-hiking strategy, early past year.

Many research firms have provided their ratings on Valeant Pharmaceuticals International, Inc. While in the same Quarter Previous year, the Actual EPS was $1.27. Also, Director Thomas W. Sr. Ross acquired 5,000 shares of the stock in a transaction on Wednesday, December 14th. The shares were bought at an average price of $14.73 per share, with a total value of $73,650.00.

The stock is now showing YTD performance of -15.7 Percent.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock.

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Analysts are also projecting an Average Revenue Estimate for Valeant Pharmaceuticals International, Inc.as $2.17 Billion in the Current Quarter. There was a stock decrease by -1.06 percent. US Bancorp DE increased its stake in Valeant Pharmaceuticals Intl by 141.0% in the third quarter.

This means some analysts still think VRX stock a good short, even at $10 per share, believing the company will soon be worthless as interest rates rise and it starts to violate profit covenants on the debt. CIBC Asset Management Inc boosted its position in Valeant Pharmaceuticals Intl by 57.9% in the third quarter.

The hedge funds remaining in the stock take solace from a March 10 statement from the company, to the effect that it had won consent for refinancing and an amendment of its credit agreements. During the period, Ackman supported the company's growth prospects and its intention of buying more companies to stimulate growth.

Add Bill Ackman to the long list of investors who want nothing to do with the struggling drug maker Valeant Pharmaceuticals.

In the past 6 months, 6 Insider purchases and 3 Insider Sales were made in which 30775 shares were traded as Insider purchases and 4328940 shares were exchanged as Insider Sales. Company's distance from 20 day simple moving average is -17.03% and distance from 50-Day simple moving average is -17.18%. At least $3.1 billion, plus funds plowed into M&A and putative relaunches, not to mention time and opportunity and reputational costs. Shares are down 12% premarket on robust volume. The specialty pharmaceutical company reported $1.26 EPS for the quarter, topping the Zacks' consensus estimate of $1.20 by $0.06.



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