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VRX

Ticker changed BHC

$15.37

0.24 (1.59%)

08:03
08/08/17
08/08
08:03
08/08/17
08:03

Technical View: Valeant rallies after results and outlook

The stock was last up 5.6% to $16.23 in pre-market trading. At that price next resistance is at $16.70. Support is at the $16 area.

  • 08

    Aug

  • 24

    Aug

VRX Ticker changed BHC
$15.37

0.24 (1.59%)

07/17/17
WELS
07/17/17
NO CHANGE
WELS
Underperform
Wells says Valeant selling Obagi for less than half of price paid in 2013
After Valeant announced it has agreed to sell its Obagi Medical Products business for $190M in cash, Wells Fargo analyst David Maris noted that this sale price is less than half of the $437M that the company paid to acquire Obagi in April 2013. While Valeant continues to make progress toward its asset sales and debt reduction targets, Maris does not believe that its recent divestitures have had a significant deleveraging impact. He keeps an Underperform rating on Valeant shares.
07/27/17
WELS
07/27/17
NO CHANGE
WELS
Underperform
Doctors not optimistic about Valeant's Siliq, says Wells Fargo
Wells Fargo analyst David Maris says the dozens of doctors he spoke to about Valeant Pharmaceuticals' Siliq are not optimistic. Over 50% of the physicians surveyed said they would use Siliq only as a fourth line therapy or later, Maris tells investors in a research note after Valeant announced the launch of the moderate-to-severe plaque psoriasis treatment. The analyst disagrees with Valeant management's claims that Siliq has "very large peak sales potential." The injection carries a warning about risk of suicide and Valeant will be competing against a large number of peers with greater resources, Maris argues. The analyst has an Underperform rating on Valeant shares, which are down 18c to $17.59 in midday trading.
07/28/17
WELS
07/28/17
NO CHANGE
Target $9
WELS
Underperform
Insurers are dropping Valeant's top products, says Wells Fargo
United Healthcare's (UNH) formulary is no longer covering Valeant Pharmaceuticals' (VRX) number three branded drug Solodyn and will also now exclude Retin-A brand, its number four branded drug, Wells Fargo analyst David Maris tells investors in a research note. The analyst estimates the two drugs represented approximately $214M of Valeant's sales in 2016. Maris also points out that Glumetza, Valeant's number eight branded drug, and Relistor were removed in July from CVS/Caremark's (CVS) formulary. These two drugs had approximately $119M in 2016 revenues. Maris notes his counterpart Peter Costa estimates that United Healthcare covers approximately 17% of the U.S. and CVS covers approximately 33%. Express Scripts (ESRX) is releasing its 2018 national formulary next week, Costa adds. Maris keeps an Underperform rating on shares of Valeant with a $9 price target. The stock in premarket trading is down 33c, or 2%, to $16.80.
08/04/17
WELS
08/04/17
NO CHANGE
WELS
Underperform
Valeant's Isuprel to face generic from Nexus, says Wells Fargo
Wells Fargo analyst David Maris noted that the FDA is reporting, and Nexus Pharmaceuticals has confirmed to him, that the company received approval for a generic version of Valeant's Isuprel. Nexus expects to "command the lion's share" of the U.S. market for the drug, as its version is made in the U.S. and has longer stability than Valeant's version, Maris tells investors. The analyst, who notes that Valeant previously indicated it anticipated that Isuprel would lose exclusivity in Q4, keeps an Underperform rating on the stock.

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