Valeant (VRX) Default 'Unlikely', Says Rodman & Renshaw

Valeant Pharma (VRX) Price Target Lowered to $45 at TD Securities

TD Securities earlier maintained a Hold rating on Valeant Pharmaceuticals (NYSE: VRX) and lowered its price target to $45.00 (from $110.00). The change follows updated guidance announced yesterday.

Analyst Lennox Gibbs said, "This latest revision layers on to an already protracted decline in... More

Valeant (VRX) PT Cut to $53 at Jefferies

Jefferies analyst David Steinberg lowered his price target on Valeant Pharmaceuticals (NYSE: VRX) to $53.00 (from $106.00) but maintained his Buy rating after shares were pummeled yesterday on weak guidance.

Steinberg commented, "VRXs highly anticipated FY16 guidance was much lighter than expected as key... More

Valeant Pharma (VRX) Adds to Gains on Rumor

Valeant Pharma (NYSE: VRX) is adding to early gains on a vague rumor Carl Icahn could become involved in the name. Shares are up 3.1%.

For what its worth, Icahn rumors are almost 100% wrong and the last thing the stock needs is another hedge fund manger involved.

Valeant Pharma (VRX) Sees Early Upside after Massive Beating

After staring lower, Valeant Pharma (NYSE: VRX) is up 2.7% today after getting annihilated to the tune of 51% on Tuesday.

Valeant (VRX) PT Cut to $40 at Canaccord Genuity

Canaccord Genuity analyst Neil Maruok reiterated a Hold rating and lowered his price target on Valeant Pharmaceuticals (NYSE: VRX) to $40.00 (from $75.00).

Maruok commented, "guidance was even lower than our base-case scenario and we believe has begun to erode investor confidence in Valeants underlying business. We believe that the implementation of the partnership with Walgreens,... More

Nomura Securities Downgrades Valeant Pharmaceuticals (VRX) to Neutral

Nomura Securities downgraded Valeant Pharmaceuticals (NYSE: VRX) from Buy to Neutral with a price target of $60.00 (from $175.00), saying they have lost conviction in the company and management credibility needs rebuilding.

Analyst Shibani Malhotra commented, "We are downgrading Valeant shares to Neutral from Buy and reducing our DCF-based target price to $60 from $175 following a far more significant reduction in 2016 guidance than we had anticipated. We admit upfront, we have been humbled by our stock call on VRX, which we have defended despite the continuing spate of bad news, as we believed that despite... More

Ackman's Pershing Square Sends Letter to Investors Following Valeant's (VRX) Q4 Report, Updated Outlook

Regulatory News:

Pershing Square Holdings, Ltd. today released an email to investors. The text of the email is set forth below:

Dear Pershing Square Investor,

Today, Valeant (NYSE: VRX) reported preliminary unaudited earnings for Q4, updated guidance for Q1, full year 2016 and the next twelve months. In particular, management shocked the market with revenue and earnings... More

Valeant Pharma (VRX) Misses Q4 EPS by 11c; Cuts Q1, FY16 Outlook

Valeant Pharma (NYSE: VRX) reported Q4 EPS of $2.50, $0.11 worse than the analyst estimate of $2.61. Revenue for the quarter came in at $2.8 billion versus the consensus estimate of $2.75 billion.

GUIDANCE:

Valeant Pharma sees Q1 2016 EPS of $1.30 - $1.55, versus prior guidance of $2.35 - $2.55 and the consensus of $2.63. Valeant Pharma sees Q1 2016 revenue of $2.3 - $2.4 billion, versus prior guidance of $2.8 - $3.1 billion and the consensus of $2.82 billion.

Valeant Pharma sees FY2016 EPS... More