Goldman Sachs Downgrades Valeant Pharmaceuticals (VRX) to Neutral

Valeant Pharma (VRX) Issues Dear Doctor Letter; Philidor Issues Release - Evercore ISI

Evercore ISI analyst Umer Raffat noted two new developments in the Valeant Pharma (NYSE: VRX) saga. First the company sent a dear doctor letter to dermatologists and separately, Philidor issued a press release.

Raffat highlighted the following from the letter:

Dead Cat Bounce, Or is a Sustainable Relief Rally in Store for Valeant (VRX)?

Citron Research founder Andrew Left's decision to step back from publishing incremental negative research on Valeant (NYSE: VRX) does absolutely nothing to change the fact that there are things we simply don't know about the company's financials, however it does temporarily remove the threat of death by 1000 tweets. This could open the door for analysts who had been supportive of the company... More

Valeant Pharmaceuticals (VRX) PT, Estimates Cut at Jefferies after Dropping Philidor

Jefferies analyst David Steinberg lowered estimates and his price target on Valeant Pharmaceuticals (NYSE: VRX) to $172.00 (from $224.00) after the company dropped Philidor but maintained a Buy rating.

commented, "VRX severed ties with Philidor following allegations of improper business conduct and intense... More

Valeant Pharmaceuticals (VRX) Bull-Bear Debate Rages

The bull-bear battle in beaten up and highly-questioned Valeant Pharma (NYSE: VRX) took center stage again today. Bill Ackman from Pershing Square on the bull side and Andrew Left from Citron Research on the bear side. Currently the bears are winning and the stock is down another 10% today and again below the $100 level.

This morning the company announced that it is severing all ties with Philidor Rx and Philidor has informed Valeant that it will shut down operations as soon as possible. Valeant's controversial... More