Valeant Pharma (VRX) 1Q16 Was A Clean-Up Quarter - Guggenheim

Valeant Pharmaceuticals (VRX): Dermatology Is Losing Money - Jefferies

June 8, 2016 8:50 AM EDT

Jefferies analyst, David Steinberg, cut his PT on Valeant Pharmaceuticals (NYSE: VRX) to meet lowered guidance. Q1 revs exceeded consensus by ~$20M while EPS was $0.09 below consensus though both were within mgts guidance range. With a new CEO in place, VRX not surprisingly significantly... More

Valeant (VRX) PT Cut to $33 at RBC Capital

June 8, 2016 7:07 AM EDT

RBC Capital analyst Douglas Miehm lowered estimate and his price target on Sector Perform-rated Valeant Pharmaceuticals (NYSE: VRX) to $33.00 (from $58.00) following mixed earnings, which were overshadowed by sharply lower guidance.

Miehm commented, "Total revenue guidance was lowered to $9.9-10.1B, from $11.0-11.2B and cash EPS guidance... More

Valeant (VRX) PT Cut to $38 at BMO Capital

June 8, 2016 6:27 AM EDT

BMO Capital analyst Alex Arfaei reiterated a Market Perform rating and cut his price target on Valeant Pharmaceuticals (NYSE: VRX) to $38.00 (from $44.00) after the company cut guidance. While the firm expected the cut, it was greater than they and the market expected.

Arfaei commented, "Although we expected Valeant to lower its guidance, the magnitude of the downward revision was greater than we and the market expected. This... More

Valeant Pharma (VRX) Will Conduct Webcast of Annual Shareholders Meeting on June 14th

June 7, 2016 5:08 PM EDT

Valeant Pharmaceuticals International, Inc. (NYSE: VRX) announced that it will conduct a live webcast of the company's annual meeting of shareholders for the year ended December 31, 2015. The meeting and webcast will be held on Tuesday, June 14, 2016 at 9:00 a.m. ET at the International Headquarters,... More

Valeant CEO cuts outlook for 'distracted' company, shares plunge

June 7, 2016 4:45 PM EDT

By Amrutha Penumudi and Rod Nickel

Reuters) - Valeant Pharmaceuticals International Inc (NYSE: VRX) slashed its 2016 forecasts on Tuesday, as its new chief executive said he would focus on rebuilding the reputation of a "distracted organization" with a debt-loaded balance sheet.

The maker of toenail fungus cream Jublia and anti-depressant drug Wellbutrin, which has faced intense scrutiny for business and accounting practices, missed first-quarter profit estimates on weakness in its dermatology business.

The Laval, Quebec-based drugmaker expects full-year adjusted earnings of $6.60-$7.00 per share, compared with its previous forecast of $8.50-$9.50, and revenue of $9.9 billion-$10.1... More

Valeant (VRX) Product Commentary 'Concerning', Piper Jaffray Says; PT Set at $19

June 7, 2016 11:44 AM EDT

Piper Jaffray David Amsellem analyst reiterated an Underweight rating and reinstated a $19 price target on Valeant Pharmaceuticals (NYSE: VRX) following Q1 results.

Amsellem said he was not surprised to see a downward revision to 2016 guidance. What was more troubling in their view was... More

Valeant Pharma (VRX) Moves Sharply Off Morning Lows

June 7, 2016 11:29 AM EDT

Valeant Pharma (NYSE: VRX) has moved sharply off morning lows after lowered guidance. Shares are down 12.8% after trading down 22% earlier.

... More

Valeant Pharma (VRX) EBITDA Guidance Just Above Maintenance Covenants - Evercore ISI's Raffat

June 7, 2016 8:06 AM EDT

Evercore ISI analyst Umer Raffat notes that Valeant Pharma (NYSE: VRX) EBITDA guidance was bit below buyside consensus and right around maintenance covenants. In addition, Xifaxan is underperforming.

Raffat notes that Valeant's updated 2016 adj EBITDA guidance was $4.8 - $4.95 billion, versus the buyside... More

Valeant Pharma (VRX) Misses Q1 EPS by 10c; Cuts FY16 Outlook

June 7, 2016 6:02 AM EDT

Valeant Pharma (NYSE: VRX) reported Q1 EPS of $1.27, $0.10 worse than the analyst estimate of $1.37. Revenue for the quarter came in at $2.37 billion versus the consensus estimate of $2.39 billion.

"The first quarter's results reflect, in part, the impact of significant disruption this organization has faced over the past nine months," said Joseph Papa, chairman and chief executive... More