Valeritas (NASDAQ:VLRX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Zacks.com reports. The firm presently has a $4.25 price target on the stock. Zacks Investment Research‘s target price indicates a potential upside of 36.22% from the company’s previous close.
According to Zacks, “Valeritas Holdings Inc. is a commercial-stage medical technology company which focused on developing technologies for Type 2 diabetes. The company’s product pipeline consists of V-Go (R) Disposable Insulin Delivery device, is a simple, wearable, basal-bolus insulin delivery solution for Type 2 diabetes which enables patients to administer a continuous preset basal rate infusion of insulin. Valeritas Holdings Inc. is headquartered in Bridgewater, New Jersey. “
Several other equities research analysts have also recently issued reports on the stock. Oppenheimer lifted their price objective on shares of Valeritas from $1.25 to $12.00 and gave the stock an “outperform” rating in a research report on Tuesday. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd.
Shares of Valeritas stock traded up $0.03 during trading on Friday, hitting $3.12. 745,062 shares of the stock were exchanged, compared to its average volume of 787,551. The company has a market cap of $16.41 million, a PE ratio of -0.09 and a beta of 1.77. The business’s 50-day simple moving average is $3.02. Valeritas has a 12-month low of $2.10 and a 12-month high of $34.00. The company has a current ratio of 3.32, a quick ratio of 2.81 and a debt-to-equity ratio of 29.19.
Valeritas (NASDAQ:VLRX) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.15). The business had revenue of $6.40 million during the quarter, compared to analysts’ expectations of $6.20 million. Valeritas had a negative net margin of 183.53% and a negative return on equity of 1,757.04%. On average, equities analysts forecast that Valeritas will post -11.14 earnings per share for the current year.
In related news, major shareholder Armistice Capital Master Fund purchased 226,000 shares of Valeritas stock in a transaction that occurred on Tuesday, May 21st. The stock was purchased at an average cost of $0.66 per share, with a total value of $149,160.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders purchased 350,000 shares of company stock valued at $234,640. 1.02% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in Valeritas by 138.0% in the fourth quarter. Geode Capital Management LLC now owns 186,971 shares of the company’s stock valued at $60,000 after acquiring an additional 108,416 shares during the last quarter. Weiss Multi Strategy Advisers LLC purchased a new stake in shares of Valeritas in the fourth quarter valued at about $41,000. Northern Trust Corp raised its holdings in shares of Valeritas by 855.4% in the fourth quarter. Northern Trust Corp now owns 185,469 shares of the company’s stock valued at $60,000 after buying an additional 166,057 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Valeritas in the fourth quarter valued at about $165,000. Finally, CVI Holdings LLC purchased a new stake in shares of Valeritas in the fourth quarter valued at about $832,000.
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. The company offers V-Go, a wearable insulin delivery device for basal-bolus therapy. It also develops V-Go Prefill that is in the design-development stage for eliminating the device-filling process and the need for EZ fill refrigeration for patients with Type 2 diabetes; and V-Go SIM for real-time tracking information of basal and bolus dosing utilization.
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