Valeritas (NASDAQ:VLRX) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Valeritas (NASDAQ:VLRX) from a hold rating to a sell rating in a research note published on Tuesday morning, Zacks.com reports.

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 research analysts also recently issued reports about the company. ValuEngine downgraded Valeritas from a buy rating to a hold rating in a research report on Saturday, December 21st. BTIG Research downgraded Valeritas from a buy rating to a neutral rating in a research report on Monday, December 23rd. Finally, Oppenheimer downgraded Valeritas from an outperform rating to a market perform rating in a research report on Monday, December 23rd.

VLRX traded down $0.03 during trading on Tuesday, reaching $0.68. 6,562 shares of the company traded hands, compared to its average volume of 415,603. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.63 and a current ratio of 2.08. Valeritas has a 12-month low of $0.55 and a 12-month high of $11.39. The firm has a fifty day simple moving average of $0.96 and a 200 day simple moving average of $1.68. The company has a market cap of $6.08 million, a P/E ratio of -0.06 and a beta of 1.78.

Valeritas (NASDAQ:VLRX) last posted its earnings results on Tuesday, November 12th. The company reported ($1.91) EPS for the quarter, beating analysts’ consensus estimates 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%. As a group, sell-side analysts expect that Valeritas will post -9.49 earnings per share for the current fiscal year.

In other news, major shareholder Armistice Capital, Llc sold 1,060,000 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $0.75, for a total transaction of $795,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.02% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of VLRX. Bank of New York Mellon Corp bought a new stake in Valeritas in the second quarter worth $68,000. Millennium Management LLC bought a new stake in Valeritas in the third quarter worth $77,000. Finally, Wedbush Securities Inc. lifted its position in Valeritas by 449.1% in the fourth quarter. Wedbush Securities Inc. now owns 90,000 shares of the company’s stock worth $52,000 after buying an additional 73,609 shares during the last quarter. Institutional investors own 17.30% 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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