Valeant Pharmaceuticals Intl (VRX) Announces Quarterly Earnings Results

Valeant Pharmaceuticals Intl (NYSE:VRX)’s stock had its “sector outperform” rating reiterated by equities researchers at Scotiabank in a research note issued on Tuesday.

Valeant Pharmaceuticals Intl updated its Q4 guidance to $4.00-4.20 EPS. BMO Capital Markets reaffirmed a “buy” rating on shares of Valeant Pharmaceuticals Intl in a research note on Tuesday.

Eduardo MunozBill Ackman is the largest hedge fund shareholder of ValeantHedge fund manager Bill Ackman has potentially lost close to $2 billion on paper on his hedge fund’s largest stock holding.

This new Citron Research report comes on the heels of an October 2, 2015, Citron Research report titled “Citron Research Exposes the Information that Congress Will Find if it Subpoenas Valeant”.

Finally, Howard Weil started coverage on shares of Valeant Pharmaceuticals Intl in a report on Friday, July 10th. Valeant Pharmaceuticals Intl has a consensus rating of “Buy” and an average target price of $237.57.

Stock in Quebec drugs company Valeant Pharmaceuticals worldwide briefly halted trading Wednesday morning after a damning report from Citron Research sent the stock plunging by 28 per cent. Revenue rose to $2.78 billion, just above estimates of $2.77 billion. The business’s quarterly revenue was up 35.5% compared to the same quarter previous year. During the same period in the prior year, the company posted $0.58 EPS.

As of 16:53 stock in Valeant was trading down by 25.56% to hit $109.24, putting it on a price-to-earnings multiple of 55.74 despite having fallen by nearly 60% since mid-August.

The stock has a market cap of $50.54 billion and a PE ratio of 61.147. The stock has a 50-day moving average price of $201.13 and a 200 day moving average price of $222.69.

But the company disclosed new information about its dealing with two specialty pharmacies, which distribute specialty drugs to patients, including that it had purchased an option to acquire a pharmacy called Philidor and was already consolidating its results. The Company is engaged in developing, production, and marketing a wide selection of branded, generic and branded generic pharmaceuticals, over-the-counter (NYSE:VRX) products, and medical devices (contact lenses, intraocular lenses, ophthalmic surgical equipment, and aesthetics devices), which are promoted directly or indirectly in over 100 nations. The Company operates through two segments: emerging markets and developed markets. The Company’s Emerging Markets segment includes medical device products and branded pharmaceuticals, OTC goods, and branded generic pharmaceutical products.

The company, known for gobbling up smaller drugmakers to get their products and then slashing jobs and research programs, jacked up prices on drugs shortly after buying them from Marathon Pharmaceuticals in February, tripling one and raising the other sixfold. Zacks downgraded shares of Valeant Pharmaceuticals Intl from a buy rating to a hold rating in a research report on Friday, July 3rd.