Valeritas (NASDAQ:VLRX) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Valeritas (NASDAQ:VLRX) from a hold rating to a buy rating in a research note published on Saturday, reports. Zacks Investment Research currently has $4.25 price objective on the stock.

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 analysts have also commented on VLRX. Oppenheimer raised their price objective on shares of Valeritas from $1.25 to $12.00 and gave the stock an outperform rating in a report on Tuesday, July 9th. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd.

Shares of VLRX opened at $2.94 on Friday. The company has a quick ratio of 2.81, a current ratio of 3.32 and a debt-to-equity ratio of 29.19. Valeritas has a one year low of $2.10 and a one year high of $33.80. The business has a 50-day moving average of $3.08. The stock has a market capitalization of $16.56 million, a price-to-earnings ratio of -0.09 and a beta of 1.79.

Valeritas (NASDAQ:VLRX) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.15) EPS for the quarter, hitting the Thomson Reuters’ 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 business had revenue of $6.40 million during the quarter, compared to analyst estimates of $6.20 million. Analysts anticipate that Valeritas will post -11.14 earnings per share for the current fiscal year.

In other Valeritas news, major shareholder Armistice Capital Master Fund bought 100,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was acquired at an average price of $0.31 per share, with a total value of $31,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired 350,000 shares of company stock valued at $234,640 in the last ninety days. Insiders own 1.02% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Northern Trust Corp boosted its stake in shares of 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 buying an additional 166,057 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 purchasing an additional 108,416 shares during the last quarter. CVI Holdings LLC purchased a new position in Valeritas in the fourth quarter valued at approximately $832,000. Weiss Multi Strategy Advisers LLC purchased a new position in Valeritas in the fourth quarter valued at approximately $41,000. Finally, Millennium Management LLC purchased a new position in Valeritas in the fourth quarter valued at approximately $165,000.

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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