Valeritas (NASDAQ:VLRX) had its target price lifted by Oppenheimer from $1.25 to $12.00 in a research note issued to investors on Tuesday morning, The Fly reports. The firm currently has an outperform rating on the stock. Oppenheimer also issued estimates for Valeritas’ Q2 2019 earnings at ($2.90) EPS, Q3 2019 earnings at ($2.66) EPS, Q4 2019 earnings at ($2.53) EPS, FY2019 earnings at ($11.14) EPS and FY2020 earnings at ($9.37) EPS.
Separately, ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd.
Shares of NASDAQ VLRX opened at $3.09 on Tuesday. The firm’s 50-day simple moving average is $3.00. The company has a debt-to-equity ratio of 29.19, a current ratio of 3.32 and a quick ratio of 2.81. The stock has a market cap of $19.91 million, a PE ratio of -0.09 and a beta of 1.77. Valeritas has a 12-month low of $2.10 and a 12-month high of $34.00.
Valeritas (NASDAQ:VLRX) last announced its earnings results on Thursday, May 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.15). Valeritas had a negative net margin of 183.53% and a negative return on equity of 1,757.04%. The firm had revenue of $6.40 million for the quarter, compared to analysts’ expectations of $6.20 million. On average, equities analysts forecast that Valeritas will post -11.14 EPS for the current fiscal year.
In other news, major shareholder Armistice Capital Master Fund acquired 226,000 shares of Valeritas stock in a transaction that occurred on Tuesday, May 21st. The shares were bought at an average cost of $0.66 per share, with a total value of $149,160.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders purchased a total of 350,000 shares of company stock worth $234,640 over the last three months. 1.02% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of VLRX. Weiss Multi Strategy Advisers LLC purchased a new stake in Valeritas in the 4th quarter worth about $41,000. Northern Trust Corp raised its position in Valeritas by 855.4% in the 4th quarter. Northern Trust Corp now owns 185,469 shares of the company’s stock worth $60,000 after purchasing an additional 166,057 shares during the period. Geode Capital Management LLC raised its position in Valeritas by 138.0% in the 4th quarter. Geode Capital Management LLC now owns 186,971 shares of the company’s stock worth $60,000 after purchasing an additional 108,416 shares during the period. Millennium Management LLC purchased a new stake in Valeritas in the 4th quarter worth about $165,000. Finally, CVI Holdings LLC purchased a new stake in Valeritas in the 4th quarter worth 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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