Valeritas (VLRX) Downgraded to Hold at ValuEngine

Valeritas (NASDAQ:VLRX) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Saturday, ValuEngine reports.

Several other brokerages have also commented on VLRX. Zacks Investment Research upgraded Valeritas from a “hold” rating to a “buy” rating and set a $0.50 target price for the company in a research report on Saturday, February 23rd. Oppenheimer set a $2.00 target price on Valeritas and gave the stock a “buy” rating in a research report on Friday, May 10th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Valeritas presently has an average rating of “Buy” and an average price target of $2.10.

Shares of VLRX opened at $0.24 on Friday. The company has a market capitalization of $24.96 million, a PE ratio of -0.14 and a beta of 2.00. The company has a quick ratio of 3.98, a current ratio of 3.32 and a debt-to-equity ratio of 29.19. Valeritas has a 52 week low of $0.22 and a 52 week high of $2.08.

Valeritas (NASDAQ:VLRX) last issued its earnings results on Thursday, May 9th. The company reported ($0.15) EPS for the quarter, hitting the consensus estimate of ($0.15). The company had revenue of $6.40 million during the quarter, compared to analyst estimates of $6.20 million. Valeritas had a negative return on equity of 1,757.04% and a negative net margin of 183.53%. Equities analysts expect that Valeritas will post -0.56 earnings per share for the current year.

In related news, major shareholder Armistice Capital Master Fund acquired 100,000 shares of Valeritas stock in a transaction that occurred on Friday, May 10th. The stock was acquired at an average price of $0.31 per share, for a total transaction of $31,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.02% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in VLRX. Weiss Multi Strategy Advisers LLC acquired a new position in Valeritas during the 4th quarter valued at approximately $41,000. Northern Trust Corp boosted its position in Valeritas by 855.4% during the 4th quarter. Northern Trust Corp now owns 185,469 shares of the company’s stock valued at $60,000 after purchasing an additional 166,057 shares during the period. Geode Capital Management LLC boosted its position in Valeritas by 138.0% during the 4th quarter. Geode Capital Management LLC now owns 186,971 shares of the company’s stock valued at $60,000 after purchasing an additional 108,416 shares during the period. Millennium Management LLC acquired a new position in Valeritas during the 4th quarter valued at approximately $165,000. Finally, Renaissance Technologies LLC boosted its position in Valeritas by 730.3% during the 3rd quarter. Renaissance Technologies LLC now owns 163,650 shares of the company’s stock valued at $218,000 after purchasing an additional 143,940 shares during the period. Institutional investors and hedge funds own 35.46% of the company’s stock.

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. 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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