Here’s what you should know.
1. Analyst opinions are split: three gave Valeant a “sell” rating, 14 rated it a ‘hold’ and eight gave it a “buy” rating.
2. Market analysts cut their price targets drastically. Wells Fargo slashed its target price from $19.50 to $11.50 while giving Valeant an “underperform” rating. Scotiabank dropped from the target stock price from $32 to $17 while giving it a “sector perform” rating. Morgan Stanley dropped Valeant’s target from $42 to $25 while rating it as “overweight.”
No analysts listed gave Valeant a target price above the previous projection.
3. Valeant opened at $18.35 on Nov. 18, 2016. Its 50-day moving average is at $20.71 and its 200-day at $24.35. Its 12-month low is $13.77 and its 12-month high is $119.87.
4. Valeant third quarter earnings were lower than analysts expected. Analysts projected a profit of $1.78 earnings per share. The company posted a $1.55 earnings per share.
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