BTIG Research initiated coverage on shares of Valeritas (NASDAQ:VLRX) in a report published on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $1.00 price target on the stock.
Separately, Oppenheimer set a $2.00 price target on shares of Valeritas and gave the company a buy rating in a research report on Wednesday, November 21st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $2.50.
Shares of VLRX stock opened at $0.33 on Tuesday. The company has a current ratio of 3.00, a quick ratio of 2.47 and a debt-to-equity ratio of 13.66. Valeritas has a 52 week low of $0.31 and a 52 week high of $4.72.
Valeritas (NASDAQ:VLRX) last issued its quarterly earnings results on Friday, November 9th. The company reported ($0.49) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.56) by $0.07. Valeritas had a negative net margin of 193.79% and a negative return on equity of 1,768.69%. The company had revenue of $6.93 million during the quarter. Research analysts anticipate that Valeritas will post -1.3 EPS for the current fiscal year.
In other news, major shareholder Armistice Capital Master Fund acquired 350,000 shares of the firm’s stock in a transaction dated Monday, November 26th. The stock was acquired at an average cost of $0.38 per share, with a total value of $133,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have bought 655,000 shares of company stock valued at $250,900. Corporate insiders own 1.80% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its position in shares of Valeritas by 730.3% during the 3rd quarter. Renaissance Technologies LLC now owns 163,650 shares of the company’s stock worth $218,000 after purchasing an additional 143,940 shares during the last quarter. Bainco International Investors purchased a new stake in shares of Valeritas during the 2nd quarter worth $228,000. Finally, C WorldWide Group Holding A S lifted its position in shares of Valeritas by 28.0% during the 2nd quarter. C WorldWide Group Holding A S now owns 316,194 shares of the company’s stock worth $424,000 after purchasing an additional 69,216 shares during the last quarter. 6.55% of the stock is owned by institutional investors and hedge funds.
Valeritas Company Profile
Valeritas Holdings, Inc, a commercial-stage medical technology company, focuses on the development and commercialization of technologies to treat patients with Type 2 diabetes in the United States and China. It offers V-Go, a wearable insulin delivery device for basal-bolus therapy. The company also develops h-Patch, a controlled delivery technology platform; Mini-Ject technology for needle-free injection systems; and Micro-Trans technology for microneedle design, fabrication, and drug delivery.
Further Reading: SEC Filing
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