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

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) Default 'Unlikely', Says Rodman & Renshaw

Rodman & Renshaw reiterated a Buy rating on Valeant Pharmaceuticals (NYSE: VRX) with a modified price target of $118.00 (from $150.00). The change follows soft guidance issued yesterday. Analyst Raghurum Selvaraju noted that the stock's plunge was motivated by fear of default, which he sees as unlikely.

Selvaraju explained, "From our perspective, the main hurdle at this juncture for Valeant is the lack of credibility... 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

Deutsche Bank Comments on Valeant Pharma (VRX) Following Q4 Call

Deutsche Bank analyst Gregg Gilbert commented on Valeant Pharma (NYSE: VRX) after it released Q4 earnings and discussed challenges on its conference call. The analyst noted operational challenges and overhang from its 10-K delay.

"The new 2016 guidance reflects in large part lower growth assumptions for the core US business (including Dermatology and GI) without offsetting cost reductions (which the company will explore). On the positive side, VRX described making progress with payors, and cited greater visibility on managed... More

UPDATE: Piper Jaffray Downgrades Valeant Pharmaceuticals (VRX) to Underweight

(Updated - March 15, 2016 11:20 AM EDT)

Piper Jaffray downgraded Valeant Pharmaceuticals (NYSE: VRX) from Neutral to Underweight. Analyst David Amsellem called Valeant a "broken company" and noted trouble spots across a number of segments.

Amsellem explained the downgrade, "VRX reported 4Q15 adjusted... More

Valeant Pharma (VRX) Misses Dramatically Reduced Expectations - BMO

BMO Capital analyst, Alex Arfaei, posted an earnings flash on Valeant Pharmaceuticals' (NYSE: VRX) miss and guide down. The call is ongoing and began at 8:00AM.

This morning, Valeant reported unaudited 4Q15 revenues of $2.78B, 1% above consensus of $2.75B. Gross margin of 75.6%... More

The Single Most Important Catalyst for Valeant Pharma (VRX) Near-Term...

Valeant Pharma (NYSE: VRX) is down 15% after posting unaudited fourth quarter result and disappointing 2016 guidance. However, according to Evecore ISI analyst Umer Raffat, the single most important catalyst for Valeant near-term is timing for covenants/10-K filing to avoid default .

The all-important date of a default is March 30th + 30 days, so April 29.

Covenant... More

Valeant Pharma (VRX) Won't File 10-K Within 15-Day Extension Period

Valeant Pharma (NYSE: VRX) disclosed the following on Tuesday:

Item 2.02 Results of Operations and Financial Condition

On March 15, 2016, Valeant Pharmaceuticals International, Inc. (the Company) issued a press release announcing preliminary unaudited financial results for the fourth quarter ended December 31, 2015. A copy of the press release is attached as Exhibit 99.1 to this report and is incorporated herein by reference.

The fourth quarter 2015 results are preliminary because, as previously announced, the Company has delayed the filing of its Annual Report on Form 10-K for the year ended December 31, 2015 pending completion of the Companys... 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