Some Traders Are Very Bearish on Valeant Pharmaceuticals Intl Inc After Today’s Gap Down

 Some Traders Are Very Bearish on Valeant Pharmaceuticals Intl Inc After Today's Gap Down

The stock of Valeant Pharmaceuticals Intl Inc (TSE:VRX) gapped down by $4.21 today and has $19.88 target or 5.00% below today’s $20.93 share price. The 5 months technical chart setup indicates high risk for the $7.08B company. The gap down was reported on Nov, 8 by Barchart.com. If the $19.88 price target is reached, the company will be worth $354.00 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 1.96M shares traded hands or 83.18% up from the average. Valeant Pharmaceuticals Intl Inc (TSE:VRX) has declined 29.58% since April 1, 2016 and is downtrending. It has underperformed by 31.53% the S&P500.

Valeant Pharmaceuticals Intl Inc (TSE:VRX) Ratings Coverage

Out of 2 analysts covering Valeant Pharmaceuticals International (TSE:VRX), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. $74 is the highest target while $38 is the lowest. The $42.50 average target is 103.06% above today’s ($20.93) stock price. Valeant Pharmaceuticals International has been the topic of 14 analyst reports since October 20, 2015 according to StockzIntelligence Inc. The firm earned “Outperform” rating on Tuesday, January 26 by RBC Capital Markets. The firm earned “Sector Perform” rating on Tuesday, October 25 by RBC Capital Markets. RBC Capital Markets maintained Valeant Pharmaceuticals Intl Inc (TSE:VRX) rating on Tuesday, October 11. RBC Capital Markets has “Sector Perform” rating and $47.50 price target. As per Monday, June 27, the company rating was maintained by RBC Capital Markets. RBC Capital Markets maintained Valeant Pharmaceuticals Intl Inc (TSE:VRX) on Monday, October 31 with “Sector Perform” rating. The firm has “Sector Perform” rating given on Tuesday, September 20 by RBC Capital Markets. RBC Capital Markets maintained the shares of VRX in a report on Monday, June 20 with “Sector Perform” rating. RBC Capital Markets maintained the stock with “Sector Perform” rating in Wednesday, September 7 report. On Wednesday, July 20 the stock rating was maintained by TD Securities with “Hold”. The firm has “Sector Perform” rating by RBC Capital Markets given on Friday, June 3.

More notable recent Valeant Pharmaceuticals Intl Inc (TSE:VRX) news were published by: Fool.com which released: “Why Valeant Pharmaceuticals Intl Inc Stock Is Slumping Today” on November 08, 2016, also Fool.com with their article: “Another Month, Another 27% Decline for Valeant Pharmaceuticals Intl. Inc. in …” published on November 07, 2016, Profitconfidential.com published: “Valeant Pharmaceuticals Intl Inc: Did VRX Stock Just Bottom?” on November 03, 2016. More interesting news about Valeant Pharmaceuticals Intl Inc (TSE:VRX) were released by: Fool.com and their article: “3 Figures in Focus When Valeant Pharmaceuticals Intl. Inc. Reports Its Q3 Results” published on November 01, 2016 as well as Schaeffersresearch.com‘s news article titled: “Buzz Stocks: CVS Health Corp, Valeant Pharmaceuticals Intl Inc, and Facebook Inc” with publication date: November 08, 2016.

Valeant Pharmaceuticals International, Inc. is a pharmaceutical and medical device company. The company has a market cap of $7.08 billion. The Firm is engaged in developing and marketing a range of branded, generic and branded generic pharmaceuticals, over-the-counter products, and medical devices (contact lenses, intraocular lenses, ophthalmic surgical equipment, and aesthetics devices). It currently has negative earnings. It operates through two divisions: Developed markets and Emerging markets.

VRX.TO Company Profile

Valeant Pharmaceuticals International, Inc., incorporated on August 9, 2013, is a specialty pharmaceutical and medical device company. The Firm is engaged in developing, manufacturing, and marketing a range of branded, generic and branded generic pharmaceuticals, over-the-counter (OTC) products, and medical devices (contact lenses, intraocular lenses, ophthalmic surgical equipment and aesthetics devices), which are marketed directly or indirectly in over 100 countries. The Firm operates through two divisions: Developed markets and Emerging markets. In the Developed Markets segment, it focuses on the areas of dermatology, neurology, gastrointestinal (GI) disorders, and eye health therapeutic classes. In the Emerging Markets segment, it focuses primarily on branded generics, OTC products and medical devices.

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