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VLRX

Valeritas

$0.47

-0.18 (-27.67%)

20:20
11/15/18
11/15
20:20
11/15/18
20:20

Valeritas 75M share Secondary priced at $0.48

Valeritas Holdings announced the pricing of its underwritten public offering of (i) 75 million shares of its common stock, (ii) series A warrants to purchase 75 million shares of its common stock and (iii) series B warrants to purchase 75 million shares of its common stock, for gross proceeds of $36 million, at a public offering price of $0.48 per share and accompanying warrants. The series A warrants have an exercise price of $0.60 per share, are immediately exercisable and will expire on the fifth anniversary of the date of issuance. The series B warrants have an exercise price of $0.48 per share, are immediately exercisable and will expire on the nine-month anniversary of the date of issuance. The shares of common stock and the accompanying warrants will be sold together in this offering but will be issued separately. All of the shares of common stock and warrants to be sold in the offering are being offered by Valeritas. The offering is expected to close on November 20, 2018 subject to customary closing conditions. Valeritas intends to use the net proceeds from this offering for working capital and other general corporate purposes. Oppenheimer and BTIG are acting as joint book running managers for the offering.

VLRX Valeritas
$0.47

-0.18 (-27.67%)

03/28/18
COWN
03/28/18
DOWNGRADE
COWN
Market Perform
Valeritas downgraded to Market Perform from Outperform at Cowen
Cowen analyst Doug Schenkel downgraded Valeritas to Market Perform.
03/28/18
03/28/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. General Electric (GE) downgraded to Sell from Hold at DZ Bank. 2. Valeritas (VLRX) downgraded to Market Perform from Outperform at Cowen. 3. Tallgrass Energy Partners (TEP) downgraded to Hold from Buy at Stifel with analyst Selman Akyol saying the agreement for Tallgrass Energy GP (TEGP) to buy Tallgrass Energy Partners in a unit-for-share exchange was mostly as expected. 4. Northern Star (NESRF) downgraded to Market Perform from Outperform at BMO Capital. 5. Japan Airlines (JAPSY) downgraded to Hold from Buy at Deutsche Bank. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/05/18
OPCO
07/05/18
INITIATION
Target $3.5
OPCO
Outperform
Valeritas initiated with an Outperform at Oppenheimer
Oppenheimer analyst Steven Lichtman started Valeritas with an Outperform rating and $3.50 price target, citing its unique insulin delivery system, large market opportunity and drivers ahead.
07/05/18
07/05/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Deciphera (DCPH) initiated with a Buy at SunTrust. 2. EQT Corporation (EQT) initiated with a Hold at TD Securities. 3. Pioneer Natural (PXD) initiated with a Buy at TD Securities. 4. Veoneer (VNE) initiated with an Overweight at Barclays. 5. Valeritas (VLRX) initiated with an Outperform at Oppenheimer. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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