Zacks Investment Research upgraded shares of Valeritas (NASDAQ:VLRX) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $1.75 target price 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. “
Other equities analysts have also issued research reports about the company. BTIG Research reiterated a buy rating and issued a $14.00 price target on shares of Valeritas in a research note on Sunday, August 11th. ValuEngine upgraded Valeritas from a hold rating to a buy rating in a research report on Wednesday, September 4th.
Shares of Valeritas stock traded down $0.09 on Tuesday, reaching $1.41. 61,058 shares of the stock were exchanged, compared to its average volume of 300,897. Valeritas has a one year low of $1.10 and a one year high of $11.39. The firm has a market cap of $12.91 million, a PE ratio of -0.04 and a beta of 1.93. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.63 and a current ratio of 2.08. The firm’s 50 day moving average is $1.39 and its 200-day moving average is $2.07.
Valeritas (NASDAQ:VLRX) last released its earnings results on Tuesday, November 12th. The company reported ($1.91) earnings per share for the quarter, topping the consensus estimate of ($2.52) by $0.61. The firm had revenue of $8.46 million during the quarter. Valeritas had a negative return on equity of 1,142.30% and a negative net margin of 183.82%. On average, equities research analysts expect that Valeritas will post -9.36 EPS for the current fiscal year.
An institutional investor recently bought a new position in Valeritas stock. Bank of New York Mellon Corp purchased a new stake in Valeritas Holdings Inc (NASDAQ:VLRX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 26,037 shares of the company’s stock, valued at approximately $68,000. Bank of New York Mellon Corp owned approximately 0.49% of Valeritas at the end of the most recent quarter. 18.29% of the stock is currently owned by institutional investors.
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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