Valeant (VRX) PT Bumped to $22 at Piper Jaffray; Keeps Lowest Rating

Valeant Pharma's (VRX) Proposed Credit Amendment Will Improve Liquidity Position - Moody's

August 10, 2016 10:58 AM EDT

Moody's Investors Service commented that a proposed amendment to Valeant Pharmaceutical International Inc.'s (NYSE: VRX) credit agreement will improve its liquidity position due to increased cushion under financial maintenance covenants. There is no impact on Valeant's ratings including the B2 Corporate Family Rating or the negative rating outlook.

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BTIG Remains Neutral on Valeant (VRX) Post-Q2; Sees Longer-than-Projected Path to Recovery

August 10, 2016 9:54 AM EDT

BTIG affirms Valeant Phama (NYSE: VRX) at Neutral following Q2 results from the company.

Analyst Timothy Chiang commented, While quarterly results were mixed, the Co. maintained its full year financial targets (which include revenues of $9.9 - $10.1B and EPS of $6.60 - $7.00). While... More

Valeant CEO receives unsolicited buyer interest for core assets

August 9, 2016 11:52 AM EDT

By Rod Nickel

(Reuters) - Valeant Pharmaceuticals International Inc (NYSE: VRX)(NYSE: VRX) has received unsolicited interest for its core assets, although the company is not actively shopping them, Chief Executive Officer Joe Papa said on Tuesday.

Earlier in the day, the Laval, Quebec-based company said it would sell billions of dollars in noncore assets to pay down debt. Valeant shares jumped 19.4 percent to $26.75 in midday N.Y.... More

Valeant (VRX) Provides Plenty to Support Bullish Thesis - Guggenheim

August 9, 2016 10:25 AM EDT

Guggenheim analyst Louise Chen reiterated a Buy rating and $55 price target on Valeant Pharmaceuticals (NYSE: VRX) following a Q2 miss but reaffirmed '16 EPS guidance.

Chen notes, "VRX has noted since its 1Q16 call that it expects the business to recover in 2H16 as it moves past the issues with its derm business, and achieved its objective to report a 40%/60% earnings split between 1H16/2H16. Therefore, our investment thesis remains intact, and we continue to believe that VRX's growth... More

RBC Affirms Valeant (VRX) at 'Sector Perform'; Q2 Slightly Below Views, Walgreens Derm co-Pay Shows Improvement

August 9, 2016 9:32 AM EDT

RBC affirms Valeant (NYSE: VRX) Sector Perform with a price target of $31 following Q2 results on Tuesday.

Analyst Douglas Miehm offered the following quick commentary ahead of the company's conference call:

Total revenues in Q2/16 were $2.42B vs. our forecast of $2.47B, and consensus of $2.47B (FactSet,15 analysts, $2.30-2.66B range). Relative to our forecasts, the Derm, GI, and Neuro/Other segments came in below our expectations, and the Emerging... More

Valeant Pharma (VRX) Misses Q2 EPS by 8c, Reaffirms Guidance; Will Divest Ruconest Rights in N.A.

August 9, 2016 6:01 AM EDT

Valeant Pharma (NYSE: VRX) reported Q2 EPS of $1.40, $0.08 worse than the analyst estimate of $1.48. Revenue for the quarter came in at $2.42 billion versus the consensus estimate of $2.46 billion.

Valeant Pharma reaffirmed FY2016 guidance. Adjusted EBITDA (non-GAAP) is expected to be in the range of $4.80 - $4.95 billion, in-line with consensus, although many expected the company to lower EBITDA guidance.

"We continue to make progress towards stabilizing the organization," said Joseph C. Papa, chairman and... More